Hong Kong stocks opened mixed Thursday morning, echoing Wall Street, where major indices closed lower on Wednesday as investors and traders lost optimism about a possible year-end recovery and get ready for the new year. The benchmark Hang Seng lost over 1% in morning trade.
| share | movement |
|---|---|
| Alibaba group holding company GmbH. BABA | -2.85% |
| JD.com inc JD | -5.56% |
| Baidu Inc BIDU | -3.27% |
| Tencent Holdings GmbH. TCEHY | 1.47% |
| meituan MPNGF | -0.22% |
| Nio Inc NEVER | -0.44% |
| XPeng Inc XPEV | -0.53% |
| Li car inc LI | 0% |
shares of Alibaba lost over 2% in morning trade. JD.com and baidu Stocks lost over 5% and 3% respectively. no was trading up 0.44%.
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Macro News: Electric vehicle exports from China more than doubled in November, setting a monthly record, largely driven by European automakers shifting production to the country. reported Bloomberg.
The US requires travelers from China to test negative for COVID-19 before entering the country. reported the South China Morning Post, citing federal health officials.
Company news: Celebrities listed on the New York Stock Exchange Chinese technology companies such as Pinduoduo Inc PDD cancel plans to also list their shares in Hong Kong, indicating they no longer see the need to hedge against potential US-China regulatory clashes, reported The information.
Tesla Inc TSLA has said that most employees at its Shanghai plant will be taking furlough breaks at the end of next month, reported CnEVPost, adding that it is not a common practice to halt operations for any length of time during the Chinese New Year.
Top winners and losers: JD.com and Alibaba Health Information Technology Limited are the biggest losers among Hang Seng constituents, each down over 5%. WuXi Biologics (Cayman) Inc. is the only winner, up over 2%.
Global News: US futures traded mixed on…
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