Hong Kong stocks opened in the red on Thursday after Wall Street indices lost steam following a two-day rally. The benchmark Hang Seng lost 0.52% in opening trade.
| Alibaba (NYSE:BABA) Group Holding Ltd. (NYSE: BABA) | -1.25% |
| JD.com Inc (NASDAQ: JD) | -2.63% |
| Baidu Inc (NASDAQ: NASDAQ:BIDU) | -1.38% |
| Tencent Holdings Ltd. (HK:0700) (OTC: TCEHY) | -0.65% |
| Meituan (OTC: MPNGF) | 0.06% |
| Nio Inc (NYSE: NIO) | -6.57% |
| XPeng Inc (NYSE: XPEV) | -6.94% |
| Li Auto Inc (NASDAQ: LI) | -1.93% |
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EV-maker shares plunged in opening trade with Xpeng (NYSE:XPEV) and Nio losing over 6%. Alibaba shares too lost over 1%.
Macro News: Taiwan has warned it would consider any Chinese incursion into its airspace as a “first strike,” reported Bloomberg.
In the weeks leading up to the Communist party congress, at which Xi Jinping is anticipated to secure a third term as party leader, China’s courts have initiated high-profile corruption trials of senior cadres, in what is seen as a crackdown on disloyalty, reported FT.
Company News: The U.S. Defense Department has added DJI Technology Co, the world’s largest maker of consumer drones, to a list of Chinese companies considered to be connected to Beijing’s military, reported the South China Morning Post.
Trading in Chinese lithium battery-maker CALB Co's shares commenced in line with their HK$38 per share issue price in the company's Hong Kong Stock Exchange debut on Thursday, reported Reuters.
Top Gainers and Losers: WuXi Biologics (Cayman) Inc. and JD.com, Inc. are the top losers among Hang Seng constituents having shed over 2.5% each. CNOOC Limited and Hengan International Group Company Limited were the top gainers have risen over 1% each.
Global News: U.S. futures traded in the green on Thursday morning Asia session. The Dow Jones futures were up 0.38% while the Nasdaq futures gained 0.52%. The S&P 500 futures were up 0.44%.
Elsewhere in Asia, Australia’s ASX 200 was up 0.07%. Japan’s Nikkei 225 gained 0.93% while mainland Chinese markets remained closed for trading. South Korea’s Kospi was up 1.3%.
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