The Hang Seng Index opened 43 points higher, Hongqiao and CATL were included in the FTSE China Index, and Jingsheng Electronics entered the northbound trading｜Hong Kong stock market opens
The Hang Seng Index opened 43 points higher this morning, reporting at 25,804 points. FTSE Russell announced the inclusion of CHINAHONGQIAO, CATL, and Hengrui Pharma in the FTSE China 50 Index constituents, with stock prices rising by 2.8%, 0.3%, and remaining unchanged, respectively. U.S. stocks rose as the ADP job reduction raised expectations for a Federal Reserve rate cut, with all three major indices increasing. The Trump administration is promoting robotics technology, causing Tesla's stock price to surge over 4%. Joyson Electronics has been added to the Hong Kong Stock Connect eligible securities list, with its stock price rising by 1%
Bad news in the US stock market is treated as good news. The US ADP jobs report, commonly referred to as "little non-farm," unexpectedly decreased by 32,000 in November, far below the market expectation of an increase of 10,000, but further strengthened expectations for the Federal Reserve to cut interest rates next week. All three major US stock indices performed well, with the Dow Jones closing up 408 points or 0.86% at 47,882 points; the S&P 500 up 20 points or 0.3% at 6,849 points; and the Nasdaq up 40 points or 0.17% at 23,454 points. As for the Golden Dragon Index, which reflects the performance of Chinese concept stocks, it fell 1.38% to 7,701 points.
Trump Administration Promotes Robotics Technology
On the other hand, the Trump administration is reportedly considering issuing an executive order next year to promote the development of robotics technology, and the Department of Transportation is also preparing to announce the establishment of a robotics working group, possibly by the end of the year. This news stimulated a surge in related stocks, with Tesla (TSLA) rising over 4% to $446.74.
In the Hong Kong stock market, the Hang Seng Index opened 43 points higher at 25,804 points. Tech stocks showed mixed performance, with Alibaba (9988) down 0.3%; Tencent (700) down 0.2%; Meituan (3690) up 0.9%; and JD.com (9618) up 0.6%. As for Xiaomi (1810), it opened at HKD 40.34, up 0.3%. Lei Jun announced that the company's app has opened for the selection of new cars, covering both brand new and official display cars, and the official display cars have been fully selected; Xiaomi Auto emphasized that the new cars are not registered and come with full warranty, while the delivery period has been shortened to as fast as 3 to 6 weeks.
FTSE China 50 Index Includes Hongqiao and CATL
On the other hand, FTSE Russell announced the inclusion of China Hongqiao (1378), CATL (3750), and Hengrui Pharma (1276) into the FTSE China 50 Index constituents. The three stocks opened up 2.8%, up 0.3%, and unchanged, respectively; at the same time, CITIC Securities (6066), Great Wall Motors (2333), and Li Auto (2015) were removed, with their stock prices remaining unchanged, down 0.6%, and down 2.3%, respectively. The adjustments will take effect after the market closes on December 19.
In individual stock news, the newly listed company Jingsheng Electronics (699) has been added to the Hong Kong Stock Connect eligible securities list, opening at HKD 18, up 1%.
Regarding the northbound capital flow, there was a net purchase of HKD 2.279 billion in Hong Kong stocks yesterday, with Xiaomi (1810), Alibaba (9988), and Meituan (3690) receiving net purchases of HKD 870 million, HKD 427 million, and HKD 298 million, respectively; while Tencent (700), SMIC (981), and Kuaishou (1024) saw net sales of HKD 733 million, HKD 419 million, and HKD 185 million, respectively
