The Hang Seng Index started the day down by 95 points or 0.4%, closing at 23,505 points. The H-share index dropped by 33 points or 0.38%, settling at 8,550 points, while the tech index fell by 16 points or 0.32%, ending at 5,229 points.

In the tech sector, Tencent saw a decrease of 0.5%, Alibaba dropped by 0.2%, Meituan fell by 0.5%, Xiaomi Group by 0.7%, JD.com by 0.8%, and Kuaishou by 0.5%. MINISO's performance faced a sharp decline of 14.7% following recent news.

Among financial stocks, performances varied, with HSBC Holdings declining by 0.9%, AIA Group by 0.1%, China Ping An by 0.3%, and Hong Kong Exchanges and Clearing rising by 1.2%.

In the automotive sector, individual movements were observed, with BYD Company falling by 1.1%, Geely Auto by 2.9%, NIO by 1.4%, XPeng by 1%, and Li Auto showing no change. Leading electric vehicle battery giant Contemporary Amperex Technology saw no fluctuations.

Meanwhile
Hong Kong IPO fundraising hits HK$76 billion reflecting strong market growth

Paul Chan, the Financial Secretary of the Hong Kong Special Administrative Region (HKSAR) government, revealed on Sunday that Hong Kong's IPO fundraising has exceeded 76 billion HK dollars (approximately 9.7 billion U.S. dollars) this year.

This substantial figure marks a remarkable sevenfold increase compared to the previous year, nearly reaching 90 per cent of the total from the previous year.

In his blog post, Chan highlighted Hong Kong's pivotal role as a "super connector" between the mainland and global markets, emphasizing the city's proactive stance in seizing opportunities, particularly amidst uncertain external conditions.

Source: Dimsumdaily.hk