Hang Seng Index surpasses 24,000 mark as Xiaomi hits record high
The Hang Seng Index opened down by four points, or 0.01%, settling at 23,783 points. In contrast, the National Enterprises Index rose by three points, or 0.03%, to reach 8,795 points, while the Technology Index gained ten points, or 0.16%, reaching 5,963 points.
In the technology sector, stocks exhibited mixed results. Tencent and Alibaba each advanced by 0.4%, while Meituan and Xiaomi Group both increased by 0.5%. However, JD.com and Kuaishou faced declines, falling by 0.8% and 0.3%, respectively.
Financial stocks remained stable, with HSBC Holdings and AIA both rising by 0.3%, and Ping An Insurance increasing by 0.4%. The Hong Kong Stock Exchange also saw a gain of 0.5%.
Automotive shares experienced notable gains, with BYD surging by 4.8%. Geely Automobile rose by 2.7%, NIO increased by 6.6%, Xpeng Motors climbed 7.7%, and Li Auto saw a modest gain of 1%.
(Hong Kong) On the day of the futures settlement, the Hang Seng Index opened lower at 23,783 points but quickly regained momentum, rising by 285 points, or 1.19%, to reach 24,073 points, marking a three-year high. The National Enterprises Index climbed by 111 points, or 1.26%, to 8,903 points, while the Technology Index rose by 124 points, or 2.08%, to 6,077 points, with total turnover on the main board reaching HK$63.5 billion.
By 9.53am, the Hang Seng Index had retreated slightly to 23,979.06, reflecting a gain of 191.13 points, or 0.80%.
In the technology sector, results were mixed, with Tencent rising by 1.5% and Alibaba gaining 1.9%. Meituan saw a slight decline of 0.2%, while Xiaomi continued its upward trajectory, increasing by 3.1%. JD.com and Kuaishou fell by 0.4% and 1.3%, respectively.
Financial stocks exhibited a varied performance; HSBC Holdings rose by 0.2%, AIA gained 2%, while Ping An Insurance dipped by 0.3%. The Hong Kong Stock Exchange saw a rise of 0.8%.
Automotive shares performed strongly, with BYD increasing by 3.7%, Geely rising by 4.5%, NIO soaring by 11.2%, Xpeng Motors climbing 8.2%, and Li Auto gaining 5.6%.
Source: Dimsumdaily.HK
