HSI1 18,475.92 +268.79 116.19B
HSCEI1 6,547.29 +110.20 55.14B
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HSI Opens 57 pts Down; SENSETIME Rockets 17%+ After Resuming Trading, while NEW ORIENTAL Craters 15%
2024-04-25 09:31:17
Hong Kong stocks opened lower this morning, snapping a 3-day rising streak. HSI opened 57 points or 0.3% lower at 17,144. HSCEI opened 19 points or 0.3% lower at 6,080. HSTECH opened 17 points or 0.5% lower at 3,556.

SENSETIME-W (00020.HK) opened rocketing 17.5% at $0.94 as it resumes trading. The company has noted the recent unusual movements in the trading price and trading volume of the Class B Shares. The Board is not aware of any reasons for such price and volume movements or of any information which must be announced to avoid a false market in the company’s securities. SENSETIME also disclosed that it launched on 23 Apr the "SenseNova 5.0" foundation model with 600 billion parameters.

For other techs, BABA-SW (09988.HK) opened flat at $72.5, TENCENT (00700.HK) opened 1.2% lower at $340.2, JD-SW (09618.HK), BIDU-SW (09888.HK) and NTES-S (09999.HK) opened down 1.1% to 1.6%, while BILIBILI-W (09626.HK) opened up 1.1%. EAST BUY (01797.HK) opened crumpling 7.5%. NEW ORIENTAL-S (09901.HK) opened crashing 15% despite earning more than US$87.16 million in Q3, up 6.8% YoY.

Among auto stocks, GEELY AUTO (00175.HK) opened lowering 1%, while LI AUTO-W (02015.HK) and XPENG-W (09868.HK) opened falling 3.5% and 2.5%. GWMOTOR (02333.HK) meanwhile opened hiking 4.8% after logging a 1Q net profit of RMB3.228 billion.

For financial stocks, HSBC HOLDINGS (00005.HK) opened 0.4% lower at $64.45, HKEX (00388.HK) opened 1.3% lower at $236, AIA (01299.HK) opened 0.8% higher at $50.85.

POWER ASSETS (00006.HK) and CKI HOLDINGS (01038.HK) subscribed $2.3 billion of new shares in their joint venture to support its acquisition of the entire share capital of Lionrai. PAH opened flat at $44.7, while CKI opened 0.3% higher at $44.5. PRADA (01913.HK) saw its net income increase 16.5% in the first three months, and its shares opened elevating 0.7%.

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