"Hong Kong Stocks" Hang Seng Index rises 98 points in half a day, Alibaba and Meituan perform well, Hong Kong Land rises over 4%

The newly added private job data in the U.S. last month fell short of expectations, and the market is awaiting the U.S. non-farm payroll data. The Dow Jones ended a four-day rise, closing down 0.2%, while the Nasdaq rose 0.3%. China Securities Journal published an article stating that the People's Bank of China does not rule out another reserve requirement ratio cut, and Hong Kong stocks rose in early trading. The Hang Seng Index opened up 174 points, with the initial increase expanding to 257 points, reaching 23,911 points. Before noon, the increase narrowed, closing up 98 points or 0.4% at 23,752 points; the National Index rose 46 points or 0.5% to 8,623 points; the Hang Seng Tech Index rose 48 points or 0.9% to 5,267 points. The total turnover of the market for the half-day was HKD 124.14 billion.

In the technology sector, Alibaba (09988.HK) rose 2.5% to HKD 117.5, while Tencent (00700.HK) fell 0.4% to HKD 510. Meituan (03690.HK) and Kuaishou (01024.HK) rose 2.6% and 4.3%, respectively, while Bilibili (09626.HK) rose 1.4%. JD.com (09618.HK) and Baidu (09888.HK) rose less than 1%, and NetEase (09999.HK) fell 0.6%. Among chip stocks, SMIC (00981.HK) and Hua Hong (01347.HK) rose over 2%.

In addition, Hongteng (06088.HK) surged 13.1%, while GoerTek (01415.HK), Xindong (02400.HK), and Reading Group (00772.HK) rose between 5.6% and 6.5%. Weimob (02013.HK) and Kingsoft Cloud (03896.HK) rose 4.8% and 4.7%, respectively. AAC Technologies (02018.HK), Sunny Optical (02382.HK), GDS Holdings (09698.HK), and SenseTime (00020.HK) rose between 2.9% and 3.6%. Lao Pu Gold (06181.HK) briefly broke the HKD 1,000 mark this morning, reaching a high of HKD 1,015, but closed down 8.6% at HKD 909.

In the automotive sector, Nio (09866.HK) rose 2%. BYD (01211.HK) fell 0.3% to HKD 405. Xiaomi (01810.HK) rose 0.2% to HKD 53.55, while Geely (00175.HK) fell 1.5%. Dongfeng (00489.HK) announced that its controlling shareholder is not involved in asset and business restructuring, leading to a 12.8% drop in stock price. Battery stock CATL (03750.HK) fell 0.4% to HKD 305.2.

Kelong Botai Bio (06990.HK) plans to issue shares at a discount of 7.6%, raising a net of HKD 1.94 billion, and the stock fell 6.9%. In other pharmaceutical stocks, Kingsoft (01548.HK) rose 3.4%, while WuXi AppTec (02359.HK) and Kanglong Chemical (03759.HK) fell 2.6% and 3.2%, respectively In the financial sector, HSBC (00005.HK) and Hong Kong Exchanges and Clearing (00388.HK) fell by 0.4% and 0.3%, respectively, while AIA (01299.HK) rose by 0.8%. In the domestic insurance sector, China Pacific Insurance (02328.HK) increased by 2.8%, and ZhongAn Online (06060.HK) dropped by 3%. In the domestic property sector, Sunac China (01109.HK) rose by 4%. In the real estate sector, Henderson Land Development (00012.HK) increased by 4.7%, as it was included in the FTSE real estate sub-index. Hang Lung Properties (00101.HK) and Swire Properties (01972.HK) rose by 3.5% and 2.3%, respectively.

Shipping stocks declined, with China COSCO Shipping Holdings (01919.HK) and Pacific Basin Shipping (02343.HK) falling by 2.4% and 2.6%, respectively, while Orient Overseas (00316.HK) dropped by 5.3%. In other stocks, SF Holding (06936.HK) rose by 3.7%, and Lingbao Gold (03330.HK) increased by 6.2%. China Silver Technology (00515.HK) plummeted by 80% in half a day, with a turnover of nearly 150 million