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<H Shrs>HSI Rallies 430 Pts at Open; BABA-W Leaps 15%; SMIC, HUA HONG SEMI Soar
Recommend 218 Positive 354 Negative 152 |
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Hong Kong stocks opened sharply higher on September 1, 2025, propelled by Alibaba. The HSI jumped up 430 points, or 1.7%, to open at 25,508. The HSCEI added 136 points, or 1.5%, to 9,084. The HSTECH advanced 117 points, or 2.1%, to 5,792. BABA-W (09988.HK) soared 15% to HK$133 after its 1FQ adjusted EBITA dropped 14%, but the company revealed plans to develop a new AI chip. HUA HONG SEMI (01347.HK) opened 5% higher after announcing plans to acquire the remaining 97.5% stake in Shanghai Huali Microelectronics, with its A-shares resuming trading. SMIC (00981.HK) leaped 6.7% at the open, planning to acquire a 49% stake in Semiconductor Manufacturing North China (Beijing) Corporation, though its A-shares were suspended. BYD ELECTRONIC (00285.HK) gapped up 11.2% following a 14% YoY hike in interim net profit. As to other techs, TENCENT (00700.HK), XIAOMI-W (01810.HK), and KUAISHOU-W (01024.HK) added 1.3-1.6%. JD-SW (09618.HK) and BIDU-SW (09888.HK) shot up 2.3% and 4.9%, respectively. MEITUAN-W (03690.HK) dipped 1.2% at the open. UBTECH ROBOTICS (09880.HK) opened 3.5% higher after narrowing it interim loss to RMB414 million and announcing a US$1 billion strategic partnership with Infini Capital. In the auto sector, BYD COMPANY (01211.HK) opened 8% lower despite a 14% rise in interim net profit, weighed down by a GM decline. GEELY AUTO (00175.HK) lifted 1.5%, while XPENG-W (09868.HK) fell 1.4%. AAStocks Financial News |
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