The Hang Seng Index opened down 102 points, Tencent fell 1%, XIAO NOODLES debuted down nearly 29%, and TIANYU SEMI dropped 34% | Hong Kong stock market opening
The Hang Seng Index opened down 102 points, reporting at 25,833 points. Technology stocks generally fell, with Tencent down 1.14%. XIAO NOODLES and TIANYU SEMI debuted on their first day, falling 28.9% and 34.48% respectively. In the U.S. stock market, the S&P 500 and Nasdaq rose for three consecutive days, while the Dow Jones slightly declined. Meta cut its budget for the metaverse project, with its stock price rising 3.43%. Northbound funds net bought HKD 1.48 billion in Hong Kong stocks, with the Tracker Fund of Hong Kong receiving a net purchase of HKD 2.606 billion, while Tencent faced a net sell of HKD 1.346 billion
The three major U.S. stock indices closed steady on Thursday, with the S&P 500 and Nasdaq rising for three consecutive days. The S&P 500 rose 7 points or 0.11% to close at 6,857 points. The Nasdaq gained 51 points or 0.22% to close at 23,505 points. The Dow Jones Industrial Average fell 31 points or 0.07% to close at 47,850 points. The Golden Dragon Index, which reflects the performance of Chinese concept stocks, rose 0.39% to close at 7,731 points.
Meta reportedly cut its "metaverse" project budget by 30%, including layoffs in that department starting in January next year, and its stock rose 3.43%. NVIDIA rose 2.16%, Tesla rose 1.73%, Microsoft rose 0.65%, while Alphabet fell 0.63%, Apple dropped 1.29%, and Amazon fell 1.41%.
Hassett expects the Fed to cut rates at this month's meeting
The U.S. Department of Labor announced that for the week ending November 29, the number of initial jobless claims was 191,000, lower than the expected 220,000, a decrease of 27,000 from the previous week. Hassett, who is rumored to be a strong candidate for the next Federal Reserve Chair and is the Director of the White House National Economic Council, stated that the Fed may cut rates at its next meeting, expecting a reduction of 0.25%.
In Hong Kong stocks, the Hang Seng Index opened down 102 points at 25,833 points. Tech stocks generally fell, with Tencent (700) down 1.14%; Alibaba (9988) down 0.77%; Meituan (3690) down 0.51%; Xiaomi (1810) down 0.66%; and JD.com (9618) down 0.94%.
XIAO NOODLES (2408) and TIANYU SEMI (2658) were listed today, both diving. XIAO NOODLES opened at HKD 5, down 28.9% from the offer price of HKD 7.04. TIANYU SEMI opened at HKD 38, down 34.48% from the offer price of HKD 58.
Regarding the northbound capital flow, there was a net purchase of HKD 1.48 billion in Hong Kong stocks yesterday. The Tracker Fund of Hong Kong (2800), WuXi AppTec (2269), and Xiaomi (1810) saw net purchases of HKD 2.606 billion, HKD 316 million, and HKD 232 million, respectively; while Tencent (700), SMIC (981), and Kuaishou (1024) experienced net sales of HKD 1.346 billion, HKD 458 million, and HKD 93.72 million, respectively
