Hong Kong shares opened in the red on Monday morning, taking cues from Friday’s Wall Street decline where major indices fell 1.5%. The benchmark Hang Seng fell 1% in opening trade.
| Alibaba (NYSE:BABA) Group Holding Ltd. (NYSE: BABA) | -0.83% |
| JD.com Inc (NASDAQ: JD) | -2.82% |
| Baidu Inc (NASDAQ: NASDAQ:BIDU) | -0.26% |
| Tencent Holdings Ltd. (HK:0700) (OTC: TCEHY) | -1.35% |
| Meituan (OTC: MPNGF) | -2.36% |
| Nio Inc (NYSE: NIO) | 1.63% |
| XPeng Inc (NYSE: XPEV) | -2.5% |
| Li Auto Inc (NASDAQ: LI) | -0.5% |
Also Read: How To Buy Alibaba (Baba) Stock
Macro News: U.S. Defense Secretary Lloyd Austin stated on Sunday he does not expect an imminent invasion of Taiwan by China but said the country was trying to establish a "new normal" with its military activities around the island, reported Reuters.
At the Communist Party’s upcoming national congress, China’s leadership will discuss and calibrate the country’s strategy for the next five years, reported the South China Morning Post citing People’s Daily.
Company News: Nio, XPeng and Li Auto released their September deliveries on Saturday, with the numbers indicating a flat performance in line with that of recent months.
China Petroleum and Chemical Corporation (OTC: SNPMF) is intending to de-list its American Depository Shares trading on the London Stock Exchange, reported Reuters.
Top Gainers and Losers: Country Garden Services Holdings Company Limited and Longfor Group Holdings Limited are the top gainers among Hang Seng constituents, having gained over 10% and 7% respectively. New World Development Company Limited and ENN Energy Holdings Limited are the top losers, having lost over 4% and 3% respectively.
Global News: U.S. futures traded mixed on Monday morning Asia session. The Dow Jones futures were up 0.02%, while the Nasdaq futures lost 0.52%. The S&P 500 futures were down 0.19%.
Elsewhere in Asia, Australia’s ASX 200 was down 0.07%. Japan’s Nikkei 225 gained 0.64%. The Chinese and South Korean markets were closed on Monday.
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