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<H Shrs>HSI Starts Higher by 78Pts; TME-SW Soars 4%; CMSC Leaps 15%
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Hong Kong bourse started higher, tracking U.S. market upswing, as China prepared to release 2Q25 GDP and key “troika” economic indicators. The HSI opened up 78 points or 0.3% at 24,281; the HSCEI rose 30 points or 0.3% to 8,763; and the HSTECH gained 14 points or 0.3% to 5,297. In tech, reports of Alibaba joining the food delivery war with plans for a “Super Saturday” campaign uplifted BABA-W (09988.HK) by 0.4% to HKD106.5. MEITUAN-W (03690.HK) edged up 0.1%, while JD-SW (09618.HK) lost 1.1%. TENCENT (00700.HK) and NTES-S (09999.HK) added 0.5% and 1.2%, respectively. BILIBILI-W (09626.HK) and TME-SW (01698.HK) swelled 3.2% and 4%. Automakers GEELY AUTO (00175.HK) and LI AUTO-W (02015.HK) hiked 0.8% and 0.9%, respectively, while BYD COMPANY (01211.HK) climbed 0.2% to HKD120.7. XIAOMI-W (01810.HK) opened flat at HKD57.3. CMB International, a wholly-owned subsidiary of CM BANK (03968.HK), reportedly received a virtual asset license, boosting CMSC (06099.HK), under the same series, up by 15% to HKD17.5 and CM BANK (03968.HK) up by 2% to HKD52.15 at the open. AAStocks Financial News |
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