Breaking News | Tencent Rises by Over 2%, Stabilizing at HK$300; Baidu Falls by Nearly 5%, and Leapmotor Drops by Nearly 7%
M+ Global Updates 27/03/2024 11:08

On Wednesday, the three major indices of the Hong Kong stock market fell collectively. As of the time of writing, the Hang Seng Index $Hang Seng Index HSI.HK$ fell by 0.71%, the Hang Seng TECH Index $HS TECH Index HSTECH.HK$ fell by 1.81%, and the Hang Seng China Enterprises Index $Hang Seng China Enterprises Index HSCEI.HK$ declined by 1.01%.

In the tech sector, most stocks weakened. Baidu $BIDU-SW 09888.HK$ dropped by nearly 5%, while Bilibili,, Xiaomi, and Alibaba all fell by around 2%. Meituan experienced a decline of nearly 1%, while Tencent saw a rise of over 2%.

Automobile stocks also declined, with Leapmotor $LEAPMOTOR 09863.HK$ falling by nearly 7%, Xpeng Motors and NIO dropping by nearly 4%, and Li Auto falling by nearly 3%, and BYD Company's stock declined by over 2%.

In terms of individual stocks, Tencent Holdings ($TENCENT 00700.HK$ ) rose by over 2%, reclaiming the 300 Hong Kong dollar mark.

Shenzhou International Group ($SHENZHOU INTL 02313.HK$ ) surged by over 9% after meeting market expectations for performance, and as the company's production capacity utilization continues to recover.

China Coal Energy ($E-COMMODITIES 01733.HK$ ) rose by nearly 6% following its performance report, as the net profit for the year increased by 27.43% year-on-year, with a significant increase in annual coal sales volume.


The content is provided as general information only and should not be taken as investment advice. All the contents shall not be taken as a recommendation to buy or sell any security or financial instruments. Any action you take resulting from information, analysis, or commentary on this article is your responsibility. Please consult your investment advisor before making any investments.

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