Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Nio, EV Shares Drop Over 1%, While Alibaba, Tech Peers Mixed: What's Weighing On Hong Kong Stocks Today

Published 15/09/2022, 03:33
© Reuters.  Nio, EV Shares Drop Over 1%, While Alibaba, Tech Peers Mixed: What's Weighing On Hong Kong Stocks Today
IXIC
-
GIG
-
BABA
-
N1WS34
-

Hong Kong stocks opened mixed on Thursday morning, with the benchmark Hang Seng gaining 0.38%, while EV stocks declined. Shares of XPeng, Li Auto and Nio fell over 1%.

Hong Kong Stocks Today Stock Movement
Alibaba (NYSE:BABA) Group Holding Ltd. (NYSE: BABA) 0.06%
JD.com Inc (NASDAQ: JD) -0.45%
Baidu Inc (NASDAQ: NASDAQ:BIDU) -1.17%
Tencent Holdings Ltd. (HK:0700) (OTC: TCEHY) 0.4%
Meituan (OTC: MPNGF) 0.4%
Nio Inc (NYSE: NIO) -1.10%
XPeng Inc (NYSE: XPEV) -2.61%
Li Auto Inc (NASDAQ: LI) -1.89%
The People's Bank of China (PBOC) kept the rate on 400 billion yuan ($57.46 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.75%, according to Channel News Asia.

Also Read: Cathie Wood Buys Nearly $7M In This Sapped Bitcoin-Linked Stock — Also Picks Up Shares In CareDx

Macro News: China's cyberspace regulator on Wednesday proposed a series of amendments to the nation’s cybersecurity law that includes increasing the size of fines for some violations, reported Reuters.

Chinese President Xi Jinping traveled to Kazakhstan on Wednesday for a state visit, his first foreign trip since the COVID-19 pandemic as he tries to gain alliances to counter U.S. influence on the world order, reported Bloomberg.

Company News: Alibaba launched its second annual small business grants program, known as the "Manifest" Grants Program, to enhance the competitive edge of products by US small and medium-sized businesses (SMBs).

Tesla Inc. (NASDAQ: NASDAQ:TSLA) Chair Robyn Denholm has defended the carmaker’s focus on China and plans to grow further in the country, saying hitting a goal of making 20 million vehicles a year by 2030 will require manufacturing capabilities on every continent, reported Bloomberg.

Top Gainers and Losers: Country Garden Services Holdings Company Ltd and WuXi Biologics (Cayman) Inc. gained over 7% each, while ENN Energy Holdings Ltd and Hengan International Group Company Ltd lost over 0.6% each.

Global News: U.S. futures traded in the green on Thursday morning Asia session. The Dow Jones futures were up 0.06% while the Nasdaq futures gained 0.09%. The S&P 500 futures rose 0.09%.

Elsewhere in Asia, Australia’s ASX 200 gained 0.36%. Japan’s Nikkei 225 was up 0.12% while China’s Shanghai Composite index gained 0.5%. South Korea’s Kospi was up 0.1%.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.