The Economic Information Agency reported on the 4th that vote counting for the U.S. midterm elections is underway, with the Democratic Party leading in performance. According to projections by American media, the Democrats have already secured a majority in the House of Representatives, causing all three major U.S. index futures to fall, with Nasdaq futures down more than 2%. The Hong Kong market declined early in the morning but gradually recovered during the session, closing the morning session at 23,529, reversing to gain 3 points. Turnover on the main board exceeded HK$87.7 billion. The Hang Seng China Enterprises Index stood at 7,943, down less than 1 point. The Hang Seng Tech Index closed at 3,828, down 39 points or 1%.
Automobile stocks led the decline this morning. Li Auto (02015) was hit by worsening delivery issues, closing the morning session down 3.65% at HK$42.74. Geely Automobile (00175) fell 2.66% to HK$13.55, BYD (01211) dropped 1.87% to HK$71, while Xpeng (09868) declined 3.19% to HK$37.02, NIO (09866) fell 3.48% to HK$24.4, and Leapmotor (09863) dropped 1.58% to HK$32.48.
Tech and internet stocks remained under pressure. Alibaba (09988) was constrained by the psychological barrier of the HK$100 level, falling 1.96% to HK$97.6. Tencent (00700) declined 0.45% to HK$395.4, Xiaomi (01810) dropped 1.12% to HK$28.28. Baidu (09888) denied rumors of delaying its昆仑芯 IPO, yet its share price still fell 0.13% to HK$74.6. JD.com (09618), despite receiving conditional EU approval for its US$2.5 billion acquisition of German electronics retailer Ceconomy, still fell 1.77% to HK$105.4.
Property stocks moved lower. China Overseas (00688) dropped 2.87% to HK$12.51, Run Run Shaw (01109) fell 1.02% to HK$31, and Longfor (00960) declined 0.9% to HK$4.39.
Biotech stocks rebounded significantly this morning. WuXi AppTec (02359) surged 5.45% to HK$185.6, BeiGene (06160) rose 4.95% to HK$220.6, and WuXi Biologics (02269) gained 4.88% to HK$45.16.
The Philadelphia Semiconductor Index rebounded, but Hong Kong AI hardware blue chips moved individually amid concerns over potential Democratic Party tightening of AI industry regulation. SMIC (00981) rose 2.39% to HK$43.64, Hua Hong Semiconductor (01347) gained 0.25% to HK$59.5, while Lenovo Group (00992) fell 2.09% to HK$19.25.
The three most actively traded stocks in the Hang Seng Index, China Enterprises Index, and Tech Index were Alibaba, Tencent, and Xiaomi respectively. (ey)
Automobile stocks led the decline this morning. Li Auto (02015) was hit by worsening delivery issues, closing the morning session down 3.65% at HK$42.74. Geely Automobile (00175) fell 2.66% to HK$13.55, BYD (01211) dropped 1.87% to HK$71, while Xpeng (09868) declined 3.19% to HK$37.02, NIO (09866) fell 3.48% to HK$24.4, and Leapmotor (09863) dropped 1.58% to HK$32.48.
Tech and internet stocks remained under pressure. Alibaba (09988) was constrained by the psychological barrier of the HK$100 level, falling 1.96% to HK$97.6. Tencent (00700) declined 0.45% to HK$395.4, Xiaomi (01810) dropped 1.12% to HK$28.28. Baidu (09888) denied rumors of delaying its昆仑芯 IPO, yet its share price still fell 0.13% to HK$74.6. JD.com (09618), despite receiving conditional EU approval for its US$2.5 billion acquisition of German electronics retailer Ceconomy, still fell 1.77% to HK$105.4.
Property stocks moved lower. China Overseas (00688) dropped 2.87% to HK$12.51, Run Run Shaw (01109) fell 1.02% to HK$31, and Longfor (00960) declined 0.9% to HK$4.39.
Biotech stocks rebounded significantly this morning. WuXi AppTec (02359) surged 5.45% to HK$185.6, BeiGene (06160) rose 4.95% to HK$220.6, and WuXi Biologics (02269) gained 4.88% to HK$45.16.
The Philadelphia Semiconductor Index rebounded, but Hong Kong AI hardware blue chips moved individually amid concerns over potential Democratic Party tightening of AI industry regulation. SMIC (00981) rose 2.39% to HK$43.64, Hua Hong Semiconductor (01347) gained 0.25% to HK$59.5, while Lenovo Group (00992) fell 2.09% to HK$19.25.
The three most actively traded stocks in the Hang Seng Index, China Enterprises Index, and Tech Index were Alibaba, Tencent, and Xiaomi respectively. (ey)
