Hang Seng Index Trend | Rise Then Fall, Consolidation Around 25800 Level

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Hong Kong stocks failed to break the 26,000 point level yesterday despite attempts to rally. This morning, although the Asia-Pacific region generally performed well, the A-shares were relatively weak. Hong Kong stocks lacked clear direction in the early session, with the Hang Seng Index showing a tug-of-war between gains and losses around the 25,800 level.

The Hang Seng Index opened 54 points higher at 25,923. During the early session, it rose as much as 86 points to a high of 25,955, but pressure to retreat after approaching the 26,000 level caused a quick reversal, with a brief drop of 64 points to a low of 25,803. As of 10:51 a.m., the Hang Seng Index was at 25,832, down 36 points or 0.14%.

The China Enterprises Index fell 45 points or 0.52%, to 8,781; the Tech Index declined 41 points or 0.82%, to 5,065.

Li Auto (02015) dropped 4.8% to 67.9 HKD, temporarily the worst-performing blue chip; CNOOC (00883) fell 3.3% to 27.86 HKD. ZTO Express (02057) rose 5.2% to 192.3 HKD, temporarily the best-performing blue chip. Pop Mart (09992) increased 2.9% to 221.6 HKD.

Tech stocks were generally soft. Tencent (00700), which announced earnings today, fell 0.8% to 545.5 HKD; Alibaba (09988) declined 0.4% to 134.1 HKD; Kuaishou (01024) dropped 1.4% to 59 HKD; JD.com (09618) rose 0.4% to 112.5 HKD; Meituan (03690) increased 0.3% to 80.2 HKD.

HSBC (00005) gained 1.1% to 126.2 HKD; China Mobile (00941) fell 0.3% to 79.8 HKD; Hong Kong Exchanges (00388) declined 0.3% to 403.2 HKD.

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