Hong Kong markets opened on a strong note Wednesday morning, echoing an upbeat Wall Street trading session that saw major indices finish about 3% higher. That Benchmark Hang Seng Index was trading 5% higher in the opening session after a bank holiday on Tuesday.
| share | movement |
|---|---|
| Alibaba group holding company GmbH. BABA | 7.08% |
| JD.com inc JD | 9.2% |
| Baidu Inc BIDU | 7.34% |
| Tencent Holdings GmbH. TCEHY | 4.85% |
| meituan MPNGF | 6.8% |
| Nio Inc NEVER | 6.45% |
| XPeng Inc XPEV | 0.11% |
| Li car inc LI | 7.37% |
Alibaba’s shares traded over 7% higher, while JD.com’s shares gained over 9%. Other big stocks like Meituan, Baidu and Nio are up over 6%.
Also read: How to buy Chinese stocks
macro news: China and Russia reject a public discussion UN Security Council after the United States asked the 15-member panel to meet on North Korea following the launch of ballistic missiles from Pyongyang over Japan, reported Reuters.
China is trying to “normalize” its military activities around Taiwan, including crossing the Taiwan Strait midline. reported Reuters, citing the Taiwan Ministry of Defense.
corporate news: apple inc AAPL added six new Chinese suppliers and laid off seven previous contractors in China in the fiscal year ended September. reported the South China Morning Post.
Sleazy entertainment has announced Tencent is now a minority shareholder of his studio, reported Gamesindustry.biz.
Top Winners and Losers: ANTA Sports Products Limited and JD.com, Inc are the top gainers among Hang Seng constituents, up over 8%. Country Garden Services Holdings Company Limited and CSPC Pharmaceutical Group Limited were the only losers, falling over 2% and 1.5% respectively.
Global News: US futures were trading lower in Asia on Wednesday morning. Dow Jones futures lost 0.49% while Nasdaq futures lost 0.53%. S&P 500 futures fell 0.52%. The Dow Jones recovered…
