The Hang Seng Index fluctuated narrowly in the first half of the day, with Xiaomi and Meituan rebounding, and Trip.com rising over 3%. Robot concept stocks surged｜Hong Kong stock market opening

The Hang Seng Index opened 43 points higher this morning and showed narrow fluctuations. Although it once "turned negative" by 111 points to 25,649 points, it later "turned positive" by 111 points to 25,871 points, with an overall range of only 222 points. As of noon, it reported 25,809 points, up 48 points or 0.19%, with a turnover of HKD 92.2 billion. In terms of the Tech Index, it reported 5,567 points at noon, up 32 points or 0.58%.

Among blue-chip stocks, Xiaomi (1810) and Meituan (3690), which have been weak recently, both rebounded, rising 2.9% and 2% respectively. Together with China Construction Bank (939) and Industrial and Commercial Bank of China (1398), which both rose over 1%, they supported the market. In contrast, Tencent (700), Alibaba (9988), and AIA (1299) fell against the trend, limiting the market's gains.

Trip.com Benefits from Russia's Visa-Free Policy with China

In terms of stock price fluctuations, Trip.com (9961) rose 3.6% in the first half of the day, making it the best-performing blue-chip stock. Zijin Mining (2899) and SMIC (981) also rose 2.3% and 1.7%. On the news front, Russia's visa-free policy for China has officially taken effect, valid from December 1, 2025, to September 14, 2026, allowing for a maximum of 30 days of visa-free travel. Additionally, since China implemented visa-free travel for Russia, related travel orders on the Trip.com platform have significantly increased compared to the same period last year, with ticket bookings for inbound tourists from Russia increasing by 190% year-on-year and hotel bookings increasing by 213%.

On the other hand, the Trump administration is committed to promoting the development of the robotics industry, stimulating related stocks in the U.S., which has also led to movements in Hong Kong-listed robotics concept stocks. Among them, Sihuan (2050) and DCH (179) both rose over 9%, while iFlytek (2590) rose over 5%, and MicroPort Scientific Corporation (2252) and Horizon Robotics (9660) both rose over 4%.

Bad news in the U.S. stock market is treated as good news. The U.S. ADP jobs report, known as the "little non-farm," unexpectedly decreased by 32,000 in November, far below the market expectation of an increase of 10,000, but it further strengthened expectations for a rate cut by the Federal Reserve next week. All three major U.S. stock indices rose, with the Dow Jones closing up 408 points or 0.86% at 47,882 points; the S&P 500 rose 20 points or 0.3% to 6,849 points; and the Nasdaq rose 40 points or 0.17% to 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 Pushes for 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, which may be announced by the end of the year. This news stimulated a surge in related stocks, with Tesla (TSLA) shares rising over 4% to USD 446.74.

In the Hong Kong stock market, the Hang Seng Index opened 43 points higher this morning, reporting 25,804 points. Tech stocks showed mixed developments, 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 purchasing available vehicles, covering brand new vehicles and official display vehicles, with the official display vehicles already sold out; Xiaomi Auto emphasized that the available vehicles 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), Contemporary Amperex Technology Co., Limited (CATL) (3750), and Heng Rui Medicine (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 Bingsheng Electronics (699) has been added to the Hong Kong Stock Connect eligible securities list, opening this morning 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