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<H Shrs> HSI Rises 215 pts; MEITUAN-W (03690.HK) Jumps Over 6% Ahead of Results; MINIMAX-W (00100.HK) Slumps Nearly 16%
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US stocks closed at record highs for three consecutive sessions last Fri (29th), with the DJIA surpassing 51,000 points for the first time. This morning (1st), the HSI opened 2 pts lower before turning higher, once peaking at 25,486 but facing resistance at the 10-day moving average (25,463). The HSI closed at 25,398, up 215 pts or 0.86%. Total turnover for the day reached HKD321.325 billion. The HSTECH closed at 4,964, up 80 pts or 1.65%. The HSCEI closed at 8,507, up 82 pts or 0.97%. Major tech stocks were broadly higher. MEITUAN-W (03690.HK) was sought after ahead of its results announcement, closing at HKD78.25, up 6.64%. XIAOMI-W (01810.HK), KUAISHOU-W (01024.HK) and TENCENT (00700.HK) each rose more than 2%, while BABA-W (09988.HK) gained 1.57%. POP MART (09992.HK) climbed 3.58%. Among blue chips, LAOPU GOLD (06181.HK) surged, closing at HKD543, up 7.74%, making it the best-performing blue chip of the day. LENOVO GROUP (00992.HK) added another 5.17% after G Sachs raised its TP to HKD31. WUXI BIO (02269.HK) rose nearly 4%. Three major AI concept stocks moved against the market. MINIMAX-W (00100.HK) opened 5.24% higher but reversed to close down 15.71%, amid news that the company has initiated an A-share IPO and released its MiniMax M3 model. KNOWLEDGE ATLAS (02513.HK) fell 8.09%, while XUNCE (03317.HK) tumbled 13.17%. Beverage stocks were active. MIXUE GROUP (02097.HK) closed at HKD287.2, up 8.87%. NAYUKI (02150.HK) closed at HKD0.77, up 16.67%. Mainland automakers released May delivery data. The three major new EV makers advanced. NIO-SW (09866.HK) reported May deliveries up 62.3% YoY, with its shares rising 6.68%. XPENG-W (09868.HK) said May deliveries rose 4% MoM and also received a rating upgrade from Macquarie, closing up 6.19%. LI AUTO-W (02015.HK), which was likewise upgraded by Macquarie, gained 1.21%. (mn/a) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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