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<H Shrs>HSI Swells 258Pts at Open; Techs Spike; NIO Up 7%
Recommend 90 Positive 169 Negative 55 |
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U.S. retail sales beat for June, paired with a robust rebound in the Philadelphia Fed Manufacturing Index for July, uplifted the U.S. markets. The DJIA swelled 229 points or 0.5%, while the Nasdaq and S&P 500 hit record highs. Hong Kong bourse opened higher, with the HSI up 258 points or 1.1% at 24,757; the HSCEI up 92 points or 1% at 8,945; and the HSTECH up 71 points or 1.3% at 5,520. For techs, JD-SW (09618.HK) opened 1.8% higher after denying participation in a “zero-yuan purchase” food delivery war. BABA-W (09988.HK) and MEITUAN-W (03690.HK) spiked 2.5% and 1.8%, respectively. TENCENT (00700.HK) gained 1.5% to HKD525. NTES-S (09999.HK) and KUAISHOU-W (01024.HK) climbed 2.1% and 1.7%. SMIC (00981.HK) and BILIBILI-W (09626.HK) advanced 0.9% and 1.2%. Tesla announced its six-seat Model Y L will launch in China this fall, boosting HK-listed automakers. NIO-SW (09866.HK) surged 7.4%, while GEELY AUTO (00175.HK), BYD COMPANY (01211.HK), LI AUTO-W (02015.HK), and XPENG-W (09868.HK) added 1-1.5%. XIAOMI-W (01810.HK) edged up 0.6%. For consumer stocks, CHINA RES BEER (00291.HK) and NONGFU SPRING (09633.HK) each opened 2.2% higher. In financials, HSBC HOLDINGS (00005.HK) lifted 0.9% to HKD98.5; HKEX (00388.HK) inched up 0.5%, and AIA (01299.HK) hiked 1.4%. AAStocks Financial News |
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