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Hang Seng Index surpasses 24,000 mark as Xiaomi hits record high
Thursday, 27 February 2025 10:13 WIB | HANGSENG |HONGKONG

Hang Seng Index opened down by four points, or 0.01%, settling at 23,783 points. In contrast, the National Enterprises Index rose by three points, or 0.03%, to reach 8,795 points, while the Technology Index gained ten points, or 0.16%, reaching 5,963 points.
In the technology sector, stocks exhibited mixed results. Tencent and Alibaba each advanced by 0.4%, while Meituan and Xiaomi Group both increased by 0.5%. However, JD.com and Kuaishou faced declines, falling by 0.8% and 0.3%, respectively.

Financial stocks remained stable, with HSBC Holdings and AIA both rising by 0.3%, and Ping An Insurance increasing by 0.4%. The Hong Kong Stock Exchange also saw a gain of 0.5%.

Automotive shares experienced notable gains, with BYD surging by 4.8%. Geely Automobile rose by 2.7%, NIO increased by 6.6%, Xpeng Motors climbed 7.7%, and Li Auto saw a modest gain of 1%.

(Hong Kong) On the day of the futures settlement, the Hang Seng Index opened lower at 23,783 points but quickly regained momentum, rising by 285 points, or 1.19%, to reach 24,073 points, marking a three-year high. The National Enterprises Index climbed by 111 points, or 1.26%, to 8,903 points, while the Technology Index rose by 124 points, or 2.08%, to 6,077 points, with total turnover on the main board reaching HK$63.5 billion.

By 9.53am, the Hang Seng Index had retreated slightly to 23,979.06, reflecting a gain of 191.13 points, or 0.80%.

In the technology sector, results were mixed, with Tencent rising by 1.5% and Alibaba gaining 1.9%. Meituan saw a slight decline of 0.2%, while Xiaomi continued its upward trajectory, increasing by 3.1%. JD.com and Kuaishou fell by 0.4% and 1.3%, respectively.

Financial stocks exhibited a varied performance; HSBC Holdings rose by 0.2%, AIA gained 2%, while Ping An Insurance dipped by 0.3%. The Hong Kong Stock Exchange saw a rise of 0.8%.

Automotive shares performed strongly, with BYD increasing by 3.7%, Geely rising by 4.5%, NIO soaring by 11.2%, Xpeng Motors climbing 8.2%, and Li Auto gaining 5.6%.

Chinese stocks slipped on Thursday, with the Shanghai Composite falling 0.3% to around 3,370 and the Shenzhen Component dropping 0.7% to 10,880, giving back gains from the previous session as technology stocks came under pressure from profit-taking. Caution also spread through the markets after Nvidia's latest earnings failed to impress investors, while US President Donald Trump proposed 25% "reciprocal" tariffs on European autos and other goods. In China, investors awaited concrete actions from Beijing after policymakers at the recently concluded National People's Congress emphasized the need to strengthen the private economy, boost business confidence, and stabilize market conditions. The technology sector led the declines, with notable losses from Talkweb Information (-4.7%), ZTE Corp (-3.2%), Hithink Royalflush (-4.5%), IEIT Systems (-3.5%), and Zhongji Innolight (-2.5%).

Source: Dimsumdaily.HK

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