Hang Seng Index Surges 3.1% as Tencent, Alibaba, and JD.com Lead Gains
In a strong showing today, the Hang Seng Index opened 114 points higher and closed at 17,093 points, marking a rise of 3.1%. The S-Share Index also saw a significant increase of 3.5%, while the S&T Index rose 4.6%.
Leading the gains were tech giants Tencent, Alibaba, and Meituan, which saw increases of 4.3%, 2.8%, and 4.7% respectively. E-commerce platform JD.com also performed well, rising 8.3%. Other notable performers included the Hong Kong Stock Exchange, which rose 3.6%, and HSBC Holdings, which rose 0.6%.
However, not all stocks fared as well. China Unicom was the worst-performing blue-chip stock, falling 1.6%, while real estate developer Longfor saw a significant rise of 14.1%.
In other news, BYD executives expressed doubts about achieving their target of 400,000 overseas sales this year, following last year’s sales figure of 242,800 vehicles. Wharf Group reported a profit attributable to shareholders of 945 million yuan, compared to a loss of 1.705 billion yuan the previous year.
Giordano International saw a 28.7% year-on-year increase in profit attributable to shareholders, while Miniso announced a 63.4% year-on-year increase in net profit, along with a special cash dividend per share.
Furthermore, Reuters reported that Li Ning’s founder is considering privatizing the company, leading to a surge in the stock price and triggering a market adjustment mechanism.
As of press time, Brent crude oil rose 0.6% to US$83.1 per barrel, with PetroChina falling 0.3%, CNOOC rising 0.1%, and Sinopec rising 0.9%.
Overall, the Hang Seng Index’s strong performance today reflects positive market sentiment and investor confidence in key sectors of the Hong Kong market.
Editor in charge: Chen Minqi