(Hong Kong) The Hang Seng Index opened with a gain of 65 points, or 0.28%, to stand at 23,398 on Monday. The China Enterprises Index rose 26 points, or 0.3%, to 8,486, while the Hang Seng Tech Index climbed 11 points, or 0.22%, to 5,266, reflecting mixed performance across technology stocks.
Among tech giants, Tencent slipped 0.2%, while Alibaba advanced 0.6%. Meituan declined by 1.1%, but Xiaomi gained 1.2%, JD.com rose 0.2%, and Kuaishou improved by 0.5%. Financial stocks also showed a mixed trend, with HSBC rising 0.3%, AIA slipping 0.6%, Ping An Insurance advancing 0.7%, and Hong Kong Exchanges and Clearing edging up 0.1%
A key highlight of the session was the Hong Kong debut of Contemporary Amperex Technology Co. Ltd. (CATL). The battery manufacturing giant, opened at HK$296, representing a 12.5% premium over its initial public offering price of HK$263. Investors who secured one board lot of 100 shares stood to gain HK$3,300 on paper before fees. The IPO of CATL proved highly popular, with its Hong Kong public offering oversubscribed by 150.15 times. The company revealed that the allocation lottery for retail investors resulted in a 10% chance of securing one lot.
Source: Dimsumdaily.hk
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