Breaking News | Tencent Rises by Over 2%, Stabilizing at HK$300; Baidu Falls by Nearly 5%, and Leapmotor Drops by Nearly 7%
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, JD.com, 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.