Hong Kong stocks opened in the red on Friday ahead of the release of the U.S. monthly jobs data which is likely to be one of the guiding factors for the U.S. Federal Reserve’s rate hike path.
| Alibaba (NYSE:BABA) Group Holding Ltd. (NYSE: BABA) | -0.9% |
| JD.com Inc (NASDAQ: JD) | -2.22% |
| Baidu Inc (NASDAQ: NASDAQ:BIDU) | -1.64% |
| Tencent Holdings Ltd. (HK:0700) (OTC: TCEHY) | -1.73% |
| Meituan (OTC: MPNGF) | -0.79% |
| Nio Inc (NYSE: NIO) | -7.75% |
| XPeng Inc (NYSE: XPEV) | -6.74% |
| Li Auto Inc (NASDAQ: LI) | -15.43% |
Also Read: How To Buy Chinese Stocks
Macro News: The U.N. rights council voted down a Western-led motion to conduct a debate on alleged human rights abuses by China against Uyghurs and other Muslims in Xinjiang, reported Reuters.
China’s People’s Liberation Army has been deploying more advanced aircraft to the South and East China seas and the Taiwan Strait to protect its territorial integrity reported the South China Morning Post, citing expert comments following the release of a documentary series by state broadcaster China Central Television.
Company News: The Biden administration is looking to spare SK Hynix Inc (OTC: HXSCL) and Samsung Electronics (LON:0593xq) Co Ltd (OTC: SSNLF) from new restrictions on memory chipmakers in China that intends to thwart Beijing's technological ambitions, reported Reuters citing sources.
U.S. adds BGI Genomics Co Ltd and CRRC Corp (OTC: CRCCY) to a blacklist that subjects them to an investment ban for Americans, reported Reuters.
Top Gainers and Losers: Longfor Group Holdings Limited and Alibaba Health Information Technology Limited are the top losers among Hang Seng constituents having shed over 4% and 3% respectively. Nongfu Spring Co., Ltd. and Galaxy Entertainment Group Limited are the top gainers, having risen over 1% each.
Global News: U.S. futures traded mixed on Friday morning Asia session. The Dow Jones futures were up 0.01% while the Nasdaq futures lost 0.04%. The S&P 500 futures were down 0.04%.
Elsewhere in Asia, Australia’s ASX 200 was down 0.52%. Japan’s Nikkei 225 lost 0.63% while mainland Chinese markets remained closed for trading. South Korea’s Kospi was up 0.12%.
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