Hong Kong shares opened in the green on Monday, with benchmark Hang Seng up 0.5% in morning trade China’s top leaders They comment that they will focus on boosting the economy next year. Alibaba Shares, meanwhile, are up over 2% in morning trade no The stock lost over 2%. meituan Stocks rose over 4%.

Macro News: China’s leaders said they will focus on stimulating the economy next year, pointing to pro-business policies and continued support for the real estate market while potentially scaling back fiscal stimulus. reported Bloomberg.

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The Shanghai Education Bureau has asked most elementary, middle and high school classes to hold classes online starting Monday as COVID-19 infections worsen, Reuters reported.

Company news: Taiwan’s government said on Saturday there would be a fine Foxconn Technology Co Ltd FXCOF for an unauthorized investment in a Chinese chipmaker, although the Taiwanese firm said it would sell the stake, Reuters reported.

The CEOs of China’s top-tier electric vehicle makers XPeng and Li Auto have tested positive for COVID-19. reported CnEVPost.

Top winners and losers: meituan and Alibaba Group Holding Limited are the top gainers among Hang Seng constituents, up 6% and 4%, respectively. CSPC Pharmaceutical Group Limited and Techtronic Industries Company Limited Stocks are the top losers, down over 2.5% and 1% respectively.

Global News: US futures were trading in the green in Asia on Monday morning. Dow Jones futures added 0.13%, while Nasdaq futures added 0.33%. S&P 500 futures traded 0.23% higher.

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