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<H Shrs>HSI Leaps 220 Pts at Open: JD, NIO Up 4%
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U.S. President-elect Donald Trump spoke on phone with Chinese President Xi Jinping, after which the market looked forward to the U.S. policy toward China. The Golden Dragon China Index soared by more than 3% last Friday (17th). This morning, Hong Kong stocks opened higher. The HSI opened higher by 220 points, or 1.1%, at 19,804; the HSCEI opened higher by 87 points, or 1.2%, at 7,196; and the HSTECH opened higher by 75 points, or 1.7%, at 4,554. In terms of techs, TENCENT (00700.HK) inched up 0.1% at $380.2. BABA-W (09988.HK), MEITUAN-W (03690.HK), XIAOMI-W (01810.HK), BIDU-SW (09888.HK), KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) leaped 2%-2.9%. JD-SW (09618.HK) shot up 4%. NTES-S (09999.HK) edged up 0.6%. China released the details of the 2025 car trade-in policy. HK-listed automakers GEELY AUTO (00175.HK) and BYD COMPANY (01211.HK) jumped up 1.5% and 2%, respectively. NIO-SW (09866.HK) swelled 4.1%. Auto dealer ZHONGSHENG HLDG (00881.HK) mounted 2%. AIR CHINA (00753.HK) narrowed its full-year loss to a maximum of RMB240 million and the stock opened 1.6% higher. JIUMAOJIU (09922.HK)'s major brand daily average sales shed 18.5%-26.9% in 4Q24, and its share price opened 1.4% lower. AAStocks Financial News |
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