Benzinga - Hong Kong stocks opened mixed on Friday morning as investors and traders remained cautious ahead of the release of U.S. jobs data — a key factor that will determine the Federal Reserve’s future course of action. The benchmark Hang Seng fell 0.35% as shares of Alibaba (NYSE:BABA) rose over 2%, while Meituan jumped over 3%. Nio shares opened over 2% lower.
| Alibaba Group Holding Ltd. (NYSE: BABA) | 2.11% |
| JD.com Inc (NASDAQ: JD) | 0.65% |
| Baidu Inc (NASDAQ: NASDAQ:BIDU) | -0.56% |
| Tencent Holdings (HK:0700) Ltd. (OTC: TCEHY) | 0.68% |
| Meituan (OTC: MPNGF) | 3.44% |
| Nio Inc (NYSE: NIO) | -2.11% |
| XPeng Inc (NYSE: XPEV) | -0.13% |
| Li Auto Inc (NASDAQ: LI) | 0.13% |
Also Read: Best Penny Stocks
Macro News: China is likely to announce a moderation in its COVID-19 quarantine protocols in the coming days and a reduction in mass testing, reported Reuters, citing sources.
China's economy will keep expanding at a reasonable speed with stable employment and prices, finance minister Liu Kun said in a speech, Reuters reported.
Company News: U.S. prosecutors have asked a judge to dismiss bank fraud and other charges against Meng Wanzhou, the chief financial officer of China's Huawei Technologies, reported Reuters.
Xpeng (NYSE:XPEV) reported a steep decline in deliveries for November compared to a year ago, with deliveries falling 63% year-over-year to 5,811. The company expects to turn things around in December.
Top Gainers and Losers: Alibaba Health Information Technology Limited and Meituan were the top gainers among Hang Seng constituents, having risen over 6% and 4%, respectively. Longfor Group Holdings Limited and Country Garden Services Holdings Company Limited were the top losers, having lost over 5% and 3%, respectively.
Global News: U.S. futures traded in the red on Friday morning Asia session. The Dow Jones futures declined 0.29% while the Nasdaq futures lost 0.46%. The S&P 500 futures were trading lower by 0.36%.
Elsewhere in Asia-Pacific, Australia’s ASX 200 was down 0.7%. Japan’s Nikkei 225 traded 1.79% lower while China’s Shanghai Composite index fell 0.13%. South Korea’s Kospi fell 1.09%.
Read Next: El-Erian Scripts Fictional Chat Between Fed's Powell And Markets: 'I Expected You To Hear The Entirety Of My Remarks...'
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.