"Hong Kong Stocks" Hang Seng Index opened 102 points lower, technology stocks are weak, Techtronic Industries fell over 2%

Last week, the number of initial jobless claims in the U.S. fell to the lowest level in over three years, with mixed developments in the U.S. stock market. The Dow Jones Industrial Average fell by less than 0.1%, while the Nasdaq rose for the third consecutive day. The Hong Kong Monetary Authority injected HKD 20 million in liquidity to banks through the discount window yesterday (4th). The Hong Kong stock market opened lower by 102 points or 0.4%, reporting 25,833 points; the National Index opened lower by 29 points or 0.3%, reporting 9,077 points; and the Hang Seng Tech Index opened lower by 23 points or 0.4%, reporting 5,592 points.

After the market close, the Hang Seng Index Company announced changes to its constituent stocks. Next week, the newly included Xinda Biologics (01801.HK) opened up 0.2%, while Leapmotor (09863.HK), which will be included in the Hang Seng Tech Index next week, opened down 0.9%. ASMPT (00522.HK), which will be removed from the Tech Index, opened down 0.1%. Yum China (09987.HK), which will be included in the National Index next week, opened down 0.7%.

In the tech sector, Alibaba (09988.HK) and Tencent (00700.HK) opened down 0.8% and 1.1%, respectively. JD.com (09618.HK) and NetEase (09999.HK) opened down 0.9%, while Xiaomi (01810.HK), Meituan (03690.HK), and Bilibili (09626.HK) opened down between 0.5% and 0.7%. Baidu (09888.HK) opened flat at HKD 115.8, and Kuaishou (01024.HK) opened flat at HKD 67.5. In the chip sector, SMIC (00981.HK) opened down 0.1%.

In the automotive sector, Geely (00175.HK), BYD (01211.HK), and Li Auto (02015.HK) opened down between 0.4% and 0.6%, while XPeng (09868.HK) opened up 0.5%.

In the financial sector, HSBC Holdings (00005.HK) opened down 0.3% at HKD 111.2, while Hong Kong Exchanges and Clearing (00388.HK) and AIA (01299.HK) opened down 1% and 0.9%, respectively. Among the mainland property stocks, China Overseas (00688.HK) reported a 26% year-on-year decline in November contract sales, opening up 0.2% at HKD 13.17. Export stocks Techtronic Industries (00669.HK) and Shenzhou International (02313.HK) opened down 2.2% and 1.9%, respectively