Hong Kong shares opened in the green on Friday, with the benchmark Hang Seng up 0.9% in morning trade. taking cues from wall street Which witnessed the much-awaited rebound a day back. shares of alibaba And JD.com while climbed close to 1% baidu The stock climbed close to 2%. Meituan The stock dropped nearly 3% in morning trading.
| inventory | Agitation |
|---|---|
| alibaba group holding Ltd Dad | 1.05% |
| JD.com ink range | 1.1% |
| Baidu Inc Beedu | 2.09% |
| Tencent Holdings Limited TCEHY | 0.6% |
| Meituan Mpngf | -3.37% |
| NIO Inc nio | -0.06% |
| XPEng Inc XPEV | 1.73% |
| Lee Auto ink Took | 2.48% |
Macro News: China’s video game regulator has issued publishing licenses to 44 foreign games for domestic release, lifting draconian restrictions that had plagued the industry for 18 months, Reuters reported.
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China has vowed to step up its fiscal spending next year while optimizing policy tools including the fiscal deficit and special loans. Reported Bloomberg.
Company News: Lee Auto hopes to achieve a new milestone in the December delivery with the company’s sales vice president. liu ji saying It will deliver over 20,000 units a month, Reported CNEVPost.
Warren Buffettsupported BYD Co. BYDDF Byddy has hiked prices for its popular dolphin model while scrapping the entry-level version of the vehicle, Reported Bloomberg.
Top gainers and losers: meituan And Alibaba Health Information Technology Limited Hang Seng components were the biggest losers, down between 3% and 2.5% in morning trade. China Life Insurance Company Limited And Hang Lung Properties Limited are the top gainers, rising over 2% and 1.8%, respectively.
Global News: US futures were trading in the red in the Asia session on Friday morning. Dow Jones futures lost 0.06% while Nasdaq futures fell 0.09%. S&P 500 futures were trading lower by 0.12%.
Elsewhere in Asia Pacific, Australia’s ASX 200 was trading 0.46% higher. Japan’s Nikkei 225 traded 0.28% higher while China’s Shanghai Composite index rose 0.56%. South Korea’s Kospi lost 1.93%.
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