Economic Information Daily, November 9 - The latest U.S. employment data released showed strong figures and a decline in the unemployment rate, bolstering expectations for a rate hike at the Federal Reserve's final meeting this year. After the AI sector collapsed last week, Asian stocks rebounded this morning, lifting the Hong Kong market. The Hang Seng Index opened at 24,625, up 143 points or 0.6%, breaking above the 100-day moving average (around 24,590), with board turnover of HK$3.508 billion. The Hang Seng China Enterprises Index stood at 8,325, up 51 points or 0.6%. The Hang Seng Tech Index stood at 4,119, up 41 points or 1%.
Tech and internet stocks advanced: Alibaba (09988) rose 2.19% to HK$107.20, Tencent (00700) gained 1.29% to HK$425.20, Meituan (03690) edged up 0.31% to HK$80.65, Baidu (09888) climbed 2.3% to HK$80, and Xiaomi (01810) rose 1.97% to HK$30.98.
AI hardware stocks also rebounded: Hua Hong Semiconductor (01347) gained 2.64% to HK$72.05, SMIC (00981) rose 2.24% to HK$46.60, Yangtze Optical Fibre & Cable (06869) advanced 2.27% to HK$88, and KBTC (01888) rose 1.84% to HK$30.96.
Expectations for U.S. rate hikes intensified, causing Techtronic Industries (00669) to fall 1.89% to HK$139.90. Domestic demand stocks opened lower collectively: China Mengniu Dairy (02319) dropped 1.31% to HK$21.12, Haier Smart Home (06690) declined 0.66% to HK$21.10, Shenzhou International (02313) fell 0.62% to HK$41.86, and Tingyi (00322) slipped 0.37% to HK$13.29.
WuXi Biologics (02269) opened 2.9% higher at HK$49, while Li Auto (02015) rose 2.78% to HK$48.76. (ey)
Tech and internet stocks advanced: Alibaba (09988) rose 2.19% to HK$107.20, Tencent (00700) gained 1.29% to HK$425.20, Meituan (03690) edged up 0.31% to HK$80.65, Baidu (09888) climbed 2.3% to HK$80, and Xiaomi (01810) rose 1.97% to HK$30.98.
AI hardware stocks also rebounded: Hua Hong Semiconductor (01347) gained 2.64% to HK$72.05, SMIC (00981) rose 2.24% to HK$46.60, Yangtze Optical Fibre & Cable (06869) advanced 2.27% to HK$88, and KBTC (01888) rose 1.84% to HK$30.96.
Expectations for U.S. rate hikes intensified, causing Techtronic Industries (00669) to fall 1.89% to HK$139.90. Domestic demand stocks opened lower collectively: China Mengniu Dairy (02319) dropped 1.31% to HK$21.12, Haier Smart Home (06690) declined 0.66% to HK$21.10, Shenzhou International (02313) fell 0.62% to HK$41.86, and Tingyi (00322) slipped 0.37% to HK$13.29.
WuXi Biologics (02269) opened 2.9% higher at HK$49, while Li Auto (02015) rose 2.78% to HK$48.76. (ey)
