Hang Seng Rises Slightly, WuXi Biologics Soars
The Hang Seng Index opened Wednesday's trading with moderate gains, rising 63 points, or 0.23%, to 27,246 at the start of the session. Its companion indexes, the HSCEI and the Hang Seng Tech Index, also edged higher as the market began the day.
In the technology sector, movement was mixed. Alibaba and Xiaomi recorded small gains, while Tencent and Meituan edged lower. Meanwhile, JD.com and Kuaishou were among the stronger performers in early trading.
The main highlight came from WuXi Biologics. The company's shares jumped around 3.5% after management issued a positive profit alert, which is generally interpreted as a signal of better-than-expected earnings performance.
Conversely, shares of Semiconductor Manufacturing International Corporation (SMIC) fell around 2.3% following the release of its financial report, indicating that the market was not entirely satisfied with the figures or prospects.
In the financial sector, movement was also mixed. Hong Kong Exchanges and Clearing (HKEX), AIA Group, and Ping An Insurance all posted small gains. Meanwhile, HSBC opened slightly lower.
Source: Newsmaker.id
