Oracle's sharp decline dragged down technology stocks, leading funds to flow into other sectors. The Dow Jones Industrial Average &#34;broke the top,&#34; closing at a new high alongside the S&amp;P 500. The Dow closed up 646 points or 1.34%, at 48,704 points; the S&amp;P 500 rose 14 points or 0.21%, at 6,901 points; while the Nasdaq fell 60 points or 0.25%, at 23,593 points. The Golden Dragon Index, which reflects the performance of Chinese concept stocks, fell 6 points or 0.09%, at 7,773 points.
Weak cloud revenue combined with a massive capital expenditure plan caused Oracle's stock price to plummet 10.8%, dragging down the technology sector. Alphabet fell 2.43%, while Nvidia and Tesla both dropped about 1.5%; Microsoft bucked the trend, rising 1%. In terms of economic data, the number of initial jobless claims for the week ending December 6 surged by 44,000 to 236,000, exceeding the expected 220,000, marking the highest level since March 2020.
The Hang Seng Index opened 230 points higher this morning, at 25,761 points. HSBC (005) hit a new high, opening up 1.84% at HKD 116.1. Bank of China Hong Kong (2388) rose 1.22%, at HKD 38.
Major tech stocks generally rose, with Tencent (700) up 1.08%; Alibaba (9988) up 1.39%; Meituan (3690) up 0.49%. NetEase (9999) rose 1.9%; Xiaomi (1810) rose 1.13%; Baidu (9888) rose 0.96%; JD.com (9618) rose 0.7%.
Benefiting from rising metal prices, Zijin Mining (2899) opened 3.5% higher, and China Hongqiao (1378) rose 3.31%.
Leapmotor (9863) saw its chairman Zhu Jiangming and shareholder Fu Liquan increase their holdings by 2.15 million shares, amounting to over HKD 100 million, with the stock price opening 1.62% higher this morning.
Regarding the northbound capital flow, there was a net purchase of HKD 791 million in Hong Kong stocks yesterday. Meituan (3690), Xiaomi (1810), and Beike (2423) saw net purchases of HKD 1.279 billion, HKD 1.009 billion, and HKD 647 million, respectively; while China National Offshore Oil Corporation (883), Alibaba-W (9988), and SMIC (981) experienced net sales of HKD 518 million, HKD 417 million, and HKD 403 million, respectively

BABA

09988

09863

01378

TCTZF

TCEHY

00700

The Hang Seng Index opened 230 points higher this morning, reporting at 25,761 points. HSBC hit a new high, opening up 1.84% at HKD 116.1. Bank of China Hong Kong rose 1.22%, and major tech stocks generally increased, with Tencent, Alibaba, and Meituan all experiencing varying degrees of gains. Zijin Mining and China Hongqiao rose 3.5% and 3.31%, respectively. Leapmotor received an additional 2.15 million shares, with its stock price opening up 1.62%. Yesterday, northbound funds net bought HKD 791 million in Hong Kong stocks, with Meituan, Xiaomi, and Beike receiving net purchases of HKD 1.279 billion, HKD 1.009 billion, and HKD 647 million, respectively

- Oracle's significant stock drop, down 10.8%, negatively impacted the tech sector, leading to a shift in capital to other areas.  
- The Dow Jones Industrial Average rose by 646 points, closing at 48,704, while the S&P 500 reached a new high, up 14 points to 6,901; in contrast, the Nasdaq fell by 60 points to 23,593.  
- Initial jobless claims surged to 236,000, exceeding expectations, marking the highest level since March 2020.

Stheadline

Alibaba

BABA-W

LEAPMOTOR

CHINAHONGQIAO

Tencent Holdings Limited

Tencent

TENCENT

The Hang Seng Index opened 230 points higher, HSBC rose 1.8% to break a new high, and Zijin and Hongqiao both rose 3% | Hong Kong stock market opens