Hong Kong shares opened mixed on Friday ahead of the release of the US jobs report, which would provide further clues as to the course and aggression of US interest rate hikes later this month. The Hang Seng Index lost 0.5% in open trade. XPeng shares lose over 3% in the morning session.
| share | movement |
|---|---|
| Alibaba group holding company GmbH. BABA | -0.11% |
| JD.com inc JD | 0.98% |
| Baidu Inc BIDU | 0.35% |
| Tencent Holdings GmbH. TCEHY | 0.37% |
| meituan MPNGF | 0.95% |
| Nio Inc NEVER | -0.66% |
| XPeng Inc XPEV | -3.34% |
| Li car inc LI | -0.18% |
macro news: Hong Kong’s interbank borrowing costs rose to their highest level in 14 years, in line with rising global interest rates in anticipation of aggressive rate hikes by major central banks, reports Bloomberg. The three-month Hong Kong interbank interest rate rose three basis points to 2.68%, the highest since the 2008 global financial crisis, it said.
China has asked about 21.2 million people in southwest China’s metropolis of Chengdu to stay indoors as it launched four days of citywide COVID-19 testing, it reported Reuters.
Also read: Why this Nio analyst cut its third-quarter delivery estimate by 12%
Company news: The Chinese electric car manufacturer Nio testifies an 81.6% year-on-year increase in August month deliveries to 10,677 cars. XPeng saw deliveries rise 33% to 9,578 cars in August, while Li Auto saw a 51% drop to 4,571 units.
Hong Kong tech giant Meitu inc MEIUY has reported a depreciation loss of over 300 million yuan ($43.4 million) on its crypto holdings payphoneciting local media.
Top winners and losers: Alibaba Health Information Technology Ltd and ENN Energy Holdings Ltd were the top gainers on Hang Seng, gaining about 3% each while China Resources Land Ltd and Country Garden Services Holdings Company Ltd were the top losers.
Global News: US futures were trading lower in Asia on Thursday morning. Dow Jones futures fell 0.14% as…
