Hong Kong shares opened in the green after a Tuesday bounce Wall Street where major indices posted significant gains as focus shifted to the earnings season. Benchmark Hang Seng opened over 1% higher. shares of Alibaba and meituan opened over 3% higher in Hong Kong.
| share | movement |
|---|---|
| Alibaba group holding company GmbH. BABA | 3.21% |
| JD.com inc JD | 2.33% |
| Baidu Inc BIDU | 0.96% |
| Tencent Holdings GmbH. TCEHY | 2.83% |
| meituan MPNGF | 3.34% |
| Nio Inc NEVER | 1.74% |
| XPeng Inc XPEV | 0.44% |
| Li car inc LI | -0.67% |
Macro News: China has delayed the release of economic indicators due for release this week, including third-quarter GDP data due Tuesday, amid the week-long congress of ruling Communist Party, reported Reuters.
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Six largest state-owned banks in China have pledged to step up support and respond to the slowing economy President Xi Jinping demand for high-quality economic growth, reported Reuters.
Company news: Warren Buffett-supported manufacturer of electric vehicles BYD Co. BYDDF BYDDY estimates its profit could rise as much as 365% in the third quarter, reported Bloomberg.
NIO has started deliveries of its flagship sedan ET7 to European consumers within 10 days of the product launch there, reported CnEVPost.
Top winners and losers: meituan and Alibaba Group Holding Limited were the top gainers among Hang Seng constituents after rising over 3% in morning trade. WuXi Biologics (Cayman) inc and ANTA Sports Products Limited were the biggest losers at over 2% and 1% respectively.
Global News: US futures traded in the green on Tuesday morning. Dow Jones futures were up 0.6%, while Nasdaq futures were up 0.79%. S&P 500 futures were up 0.7%.
Elsewhere in Asia, the Australian ASX 200 was up 1.43%. Japan’s Nikkei 225 rose 0.56%, while China’s Shanghai Composite Index fell 0.03%. South Korea’s…
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