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<H Shrs>HSI Opens Down 262 Pts; XIAOMI-W Slips 5%+; LI AUTO-W, XPENG-W Soft
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U.S. President Donald Trump reportedly plans to suspend some tariffs originally set for April 2. The U.S. stock market rallied on the news, with the DJIA spiking 597 points or 1.4%, and the Nasdaq climbing 2.3%. Standing in contrast, Hong Kong bourse opened lower in the morning session, with the HSI drooping 262 points or 1.1% to 23,643, the HSCEI falling 112 points or 1.3% to 8,738, and the HSTECH declining 98 points or 1.7% to 5,638. XIAOMI-W (01810.HK) announced a 6.6% discounted top-up placing, raising net proceeds of HKD42.5 billion, with its stock opening 5.5% lower at HKD53.85. BYD COMPANY (01211.HK) reported a 34% YoY increase in net profit for last year, but its stock opened 0.1% down at HKD403. BYD ELECTRONIC (00285.HK) saw a 5.5% YoY rise in net profit last year, with its stock opening 1.4% lower at HKD46.3. SUNNY OPTICAL (02382.HK) posted a 1.46-fold YoY surge in net profit for last year, yet its stock opened 2.4% lower at HKD83.5. MEITUAN-W (03690.HK) Core Local Commerce CEO Wang Puzhong stated that the company is developing a native AI product; however, its stock still opened 1.7% lower at HKD162.9. Among other techs, BABA-W (09988.HK), KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) opened down 1.5-1.7%. TENCENT (00700.HK) opened flat at HKD513, while JD-SW (09618.HK) and BIDU-SW (09888.HK) opened 0.6% lower. EAST BUY (01797.HK) extended its share repurchase plan by one year, with its stock opening 0.2% higher at HKD12.88. In the auto sector, GEELY AUTO (00175.HK) opened 1.8% lower, while LI AUTO-W (02015.HK) and XPENG-W (09868.HK) opened down 3.1% and 4.3%, respectively. AAStocks Financial News |
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