"Hong Kong Stocks" The Hang Seng Index opened 109 points higher, with significant gains in automotive stocks, while Xiaomi fell over 1%

After the Christmas holiday, the Hong Kong stock market reopened positively, with the Hang Seng Index opening up 109 points or 0.43% at 25,928 points; the Hang Seng China Enterprises Index opening up 52 points or 0.59% at 8,967 points; and the Hang Seng Tech Index opening up 48 points or 0.88% at 5,547 points.

In the tech sector, Tencent (00700.HK) opened up 0.5%, Alibaba-W (09988.HK) opened up 0.8%. Xiaomi-W (01810.HK) co-founder Lin Bin plans to sell up to USD 2 billion in shares in the future, with the stock opening down 1.4%, making it the worst-performing blue-chip stock.

As for JD.com-SW (09618.HK), Baidu-SW (09888.HK), Meituan-W (03690.HK), and NetEase-S (09999.HK), they opened up between 0.5% and 1.3%. In the chip sector, SMIC (00981.HK) opened up 0.6%, and Hua Hong (01347.HK) opened up 0.07%.

The Ministry of Finance stated that next year it will continue to implement a more proactive fiscal policy, expand fiscal spending, and support the replacement of old consumer goods with new ones. The automotive stocks saw significant gains, with BYD (01211.HK) opening up 3.5%, making it the best-performing blue-chip stock. XPeng-W (09868.HK) opened up 5.1%, while Nio-SW (09866.HK), Li Auto-W (02015.HK), and Geely (00175.HK) opened up between 3.1% and 3.7%. Leapmotor (09863.HK) issued domestic shares at a premium of 10.7% to FAW, involving over 4.1 billion yuan, with the stock opening up 4.1%.

In the financial sector, HSBC (00005.HK) opened down 0.08%, AIA (01299.HK) opened up 0.4%, Hong Kong Exchanges and Clearing (00388.HK) opened flat at 410 HKD, and China Life (02628.HK) opened up 1.3%.

In individual stocks, UBTECH (09880.HK) acquired a 43% stake in Fenglong Co. for over 1.66 billion yuan, with the stock opening up 7.2%