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Hong Kong Stocks Trend | Hang Seng Index Opens Higher by 216 Points, Reclaims Bull-Bear Line
U.S. media intends to cease fire for one month and negotiate a 15-point agreement with Iran. U.S. stock futures rose, while oil prices fell more than 50% during Asian trading hours. Hong Kong stocks continued yesterday’s rebound, with the Hang Seng Index opening 216 points higher, filling Monday’s gap down and returning to the 25,000 level and the so-called bull-bear line at the 250-day moving average (currently at 25,111).
The Hang Seng Index opened 216 points higher, or 0.86%, at 25,280.
The China Enterprises Index opened 60 points higher, or 0.71%, at 8,559.
The Tech Index opened 47 points higher, or 0.99%, at 4,878.
Earnings stocks remain the market focus. Nongfu Spring (09633) reported a 31% profit increase last year and opened 6% higher this morning, at HKD 45, the second-largest blue-chip gain. Haidilao (06862) saw a 14% profit decline last year and opened 4% lower, at HKD 15.35, the worst-performing blue chip. Xiaomi (01810) earned 24% less last quarter and opened 2% lower, at HKD 32.04.
Oil prices rebounded sharply. CNOOC (00883) opened 3.2% lower, at HKD 28.5; PetroChina (00857) opened 0.2% lower, at HKD 10.7.
Technology stocks generally rose. Alibaba (09988) opened 1.6% higher, at HKD 125.2; Tencent (00700) opened 1% higher, at HKD 519; Kuaishou (01024) opened 1.8% higher, at HKD 53.75; JD.com (09618) opened 1% higher, at HKD 108.3.
HSBC (00005) opened 0.6% higher, at HKD 124.4; China Mobile (00941) opened flat, at HKD 78.
Major stocks reporting earnings today include Kuaishou (01024), Anta Sports (02020), Mengniu Dairy (02319), and Pop Mart (09992).
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