Hang Seng Index Opens Soft, Tech Stocks Decline, Shijiazhuang Pharma Group Shows Strength
The Hang Seng Index started the day with a dip of 233 points or 0.99%, closing at 23,339 points. The state-owned enterprise index fell by 97 points or 1.13% to 8,462 points, while the technology index dropped by 66 points or 1.26% to 5,234 points.
In the tech sector, Tencent experienced a 0.8% decline, Alibaba dropped by 2.5%, Meituan by 1.9%, Xiaomi Group by 1.3%, JD.com by 2.1%, and Kuaishou by 0.3%. Individual developments were noted in the financial sector, with HSBC Holdings falling by 0.5%, Prudential Insurance rising by 0.3%, China Ping An dropping by 1.1%, and Hong Kong Exchanges and Clearing by 0.5%.
Among automotive stocks, BYD Company saw a decline of 2.4%, Geely Auto by 0.9%, NIO by 2%, XPeng by 0.6%, and Li Auto surged by 4.3%. Nio dropped by 0.5%. Shijiazhuang Pharma Group showed strength post-performance, rising by 7.6%.
Source : dimsumdaily.hk
