Summary
[Hong Kong Stocks Lunch Review: Hang Seng Technology Index fell 2% and the auto sector strengthened against the trend]The three major indexes of Hong Kong stocks fell in early trading. The Hang Seng Index fell 1.38% to 20187.37 points; %, reported 6928.97 points. Technology stocks generally fell, Ctrip, Kingdee International fell more than 4%, Baidu, Meituan, Lenovo, JD.com, Bilibili fell more than 3%, Alibaba fell 2%; Xiaopeng Motors Q2 revenue guidance of 6.8-7.5 billion Yuan, less than market expectations, new energy vehicles and lithium battery stocks fell, Xiaopeng Motors fell 7.37%, Weilai fell 6.19%, BYD fell 5.62%, Tianneng Power fell 3.42%, BYD Electronics fell 2.53%; The purchase tax of some passenger cars was reduced by 60 billion yuan. Fuel vehicles and auto parts stocks generally rose. Great Wall Motors rose 7.78%, Geely Automobile rose 5.28%, Wuling Motors rose 5.17%, Minth Group and Fuyao Glass rose more than 6%, Dongfeng Group and GAC Group followed suit; coal, shipping, and power stocks strengthened, Yankuang Energy rose more than 5.12%, COSCO SHIPPING Energy rose 5.84%, SITC rose 4.52%, Huadian International, Datang Power rose more than 2% %.
The three major indexes of Hong Kong stocks fell in early trading. The Hang Seng Index fell 1.38% to 20187.37 points; the Hang Seng Technology Index fell 2% to below 4100 points; the China Enterprises Index fell 1.33% to 6928.97 points. Tech stocks tumbledCtrip、Kingdee Internationalfell more than 4%,BaiduMeituan, Lenovo,JD.com、Bilibilifell more than 3%,Alibabadown 2%;Xiaopeng MotorsQ2 revenue guidance of 6.8 billion-7.5 billion yuan, less than market expectations,new energycar andlithium batterystocks fell,Xiaopeng Motorsdown 7.37%,NIOdown 6.19%,BYDdown 5.62%,Tianneng Powerdown 3.42%,BYDElectronics fell 2.53%; the National Standing Committee decided to reduce the purchase tax of some passenger cars by 60 billion yuan in stages, and stocks of fuel vehicles and auto parts generally rose.Great Wall Motorsup 7.78%,Geely Autoup 5.28%,Wuling Motorsup 5.17%,Minth Group、Fuyao GlassUp more than 6%, Dongfeng Group andGAC GroupFollow up; coal, shipping, power stocks strengthened,Yankuang Energyrose more than 5.12%,COSCO SHIPPING Energyup 5.84%,SITC Internationalup 4.52%,Huadian International、Datang Power Generationrose more than 2%.
(Article source: Financial Associated Press)