Hang Seng Index opens lower, mobile device stocks thrive
(Hong Kong) The Hang Seng Index opened 17 points lower, down 0.07% at 23,240 points. The National Enterprises Index fell 9 points, or 0.11%, to 8,434 points, while the Technology Index gained 2 points, up 0.05%, reaching 5,177 points.
In the technology sector, Tencent rose by 0.4%, whereas Alibaba and Meituan both declined by 0.3%. Xiaomi saw no change, while JD.com dropped 2.1% and Kuaishou increased by 0.6%.
Financial stocks showed mixed results, with HSBC falling 0.3%. AIA and China Ping An remained unchanged, while the Hong Kong Stock Exchange rose 0.2%.
In the automotive sector, BYD shares fell by 1.2%, Geely remained unchanged, NIO rose by 0.8%, XPeng saw no change, and Li Auto increased by 0.2%. Electric vehicle battery giant CATL also gained 0.3%.
Mobile device stocks performed well, with Sunny Optical rising by 3.6%, BYD Electronics up 2.5%, and AAC Technologies increasing by 4.4%.
Source: Dimsumdaily.hk
