Alibaba, rise: Hang Seng trades strong on last trading day of 2022 – Alibaba Group Holding (NYSE:BABA), NIO (NYSE:NIO)

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 while climbed close to 1% baidu The stock climbed close to 2%. Meituan The stock dropped nearly 3% in morning trading.

hong kong stocks today
inventory Agitation
alibaba group holding Ltd Dad 1.05% 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%.

Read further: Cathy Wood loads up on Tesla shares for the third straight day: This crypto-related stock also bought over $5M

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