--- title: "The Hang Seng Index opened down 47 points, Kuaishou fell 6%, Tencent rose 1.5%, and MOST KWAI CHUNG's placement to expand its environmental business rose 14% | Hong Kong stock market opens" type: "News" locale: "en" url: "https://longbridge.com/en/news/291861299.md" description: "The Hang Seng Index opened down 47 points. The US stock market's Dow Jones Industrial Average reached a new high, SpaceX was included in the NASDAQ-100, and Microsoft's layoffs caused a slight drop in its stock price. In Hong Kong stocks, Tencent reduced its stake in Kuaishou by nearly 272 million shares, lowering its holding ratio to 9.37%, causing Kuaishou to drop 6%; Tencent rose 1.5%. MOST KWAI CHUNG announced a share placement to expand its environmental business, with its stock price rising 14%. TONGRENTANGCARE fell 13% on its first day of listing. Other tech stocks showed mixed performance" datetime: "2026-07-07T01:34:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291861299.md) - [en](https://longbridge.com/en/news/291861299.md) - [zh-HK](https://longbridge.com/zh-HK/news/291861299.md) --- # The Hang Seng Index opened down 47 points, Kuaishou fell 6%, Tencent rose 1.5%, and MOST KWAI CHUNG's placement to expand its environmental business rose 14% | Hong Kong stock market opens The US stock market's Dow Jones Industrial Average reached a new intraday and closing historical high, rising by 155 points or 0.29% to close at 53,055 points, marking the first time it closed above 53,000 points. The S&P 500 rose by 54 points or 0.73% to 7,537 points; the NASDAQ rose by 388 points or 1.12% to 26,121 points; and the Golden Dragon Index, which reflects the performance of Chinese concept stocks, rose by 1.71% to 6,013 points. SpaceX was included in the NASDAQ-100 before the market opened on Tuesday, with its stock price turning from a rise to a nearly 1% drop on Monday; Tesla surged by 6.7%. Reports indicate that Broadcom is expanding its collaboration with Apple until 2031, with Broadcom's stock rising by 3.7% and Apple's by 1.3%. Microsoft fell by nearly 1% as the company announced it would lay off 4,800 employees, accounting for 2.1% of its total workforce. Dell rose by over 4%, as the company received praise from Trump for its donations to the "Trump Accounts" project. The Hang Seng Index opened down 47 points at 23,568 points. Kuaishou (1024) saw a reduction in holdings by Tencent (700), with its stock price opening down 5.9%; Tencent rose by 1.5%. Tencent sold nearly 272 million Class B shares to several buyers through an over-the-counter block trade yesterday (6th). After the sale, Tencent's shareholding will decrease from approximately 15.68% to 9.37%, and it will no longer be a major shareholder of Kuaishou, but Tencent expressed confidence in Kuaishou's long-term development prospects and will continue to maintain strategic cooperation between the two parties. Other tech stocks showed mixed developments, with Baidu (9888) rising by 1.17%; Meituan (3690) rising by 0.6%; Alibaba (9988) rising by 0.2%; Xiaomi (1810) rising by 0.08%; JD.com (9618) falling by 0.37%; and NetEase (9999) falling by 1.7%. ## TONGRENTANGCARE First Listing Drops 13% MOST KWAI CHUNG (1716) opened up 14.4% after announcing plans to place up to 54 million new shares at a placement price of HKD 4.28 per share, a discount of about 19.7% compared to the previous closing price of HKD 5.33. The net proceeds are expected to be approximately HKD 229 million, intended for establishing and developing new environmental and sustainable business initiatives, as well as expanding the product and service range of its existing media business. In terms of new stocks, TONGRENTANGCARE (2667) opened at HKD 4.76, down 13.4% from its listing price of HKD 5.5. Regarding the northbound capital flow, there was a net purchase of HKD 20.528 billion in Hong Kong stocks on Monday. TRACKER FUND (2800), Tencent (700), and Hang Seng China Enterprises (2828) saw net purchases of HKD 6.868 billion, HKD 2.493 billion, and HKD 964 million, respectively; while Changfei Optical Fiber (6869), Jiantao Laminates (1888), and Jiantao Group (148) experienced net sales of HKD 1.088 billion, HKD 1.068 billion, and HKD 854 million, respectively ### Related Stocks - [00700.HK](https://longbridge.com/en/quote/00700.HK.md) - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [.NDX.US](https://longbridge.com/en/quote/.NDX.US.md) - [TCTZF.US](https://longbridge.com/en/quote/TCTZF.US.md) - [01716.HK](https://longbridge.com/en/quote/01716.HK.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [00HSI.HK](https://longbridge.com/en/quote/00HSI.HK.md) - [02667.HK](https://longbridge.com/en/quote/02667.HK.md) - [01024.HK](https://longbridge.com/en/quote/01024.HK.md) - [TCEHY.US](https://longbridge.com/en/quote/TCEHY.US.md) - [MSFL.US](https://longbridge.com/en/quote/MSFL.US.md) - [07300.HK](https://longbridge.com/en/quote/07300.HK.md) - [MSFX.US](https://longbridge.com/en/quote/MSFX.US.md) - [MSFO.US](https://longbridge.com/en/quote/MSFO.US.md) - [MSFD.US](https://longbridge.com/en/quote/MSFD.US.md) - [MSFU.US](https://longbridge.com/en/quote/MSFU.US.md) - [TQQQ.US](https://longbridge.com/en/quote/TQQQ.US.md) - [SQQQ.US](https://longbridge.com/en/quote/SQQQ.US.md) - [DDM.US](https://longbridge.com/en/quote/DDM.US.md) - [UDOW.US](https://longbridge.com/en/quote/UDOW.US.md) - [DOG.US](https://longbridge.com/en/quote/DOG.US.md) - [SDOW.US](https://longbridge.com/en/quote/SDOW.US.md) - [DXD.US](https://longbridge.com/en/quote/DXD.US.md) - [QLD.US](https://longbridge.com/en/quote/QLD.US.md) - [07522.HK](https://longbridge.com/en/quote/07522.HK.md) - [PSQ.US](https://longbridge.com/en/quote/PSQ.US.md) - [QID.US](https://longbridge.com/en/quote/QID.US.md) - [DIA.US](https://longbridge.com/en/quote/DIA.US.md) - [QYLD.US](https://longbridge.com/en/quote/QYLD.US.md) - [JEPQ.US](https://longbridge.com/en/quote/JEPQ.US.md) - [QQQI.US](https://longbridge.com/en/quote/QQQI.US.md) - [MSFW.US](https://longbridge.com/en/quote/MSFW.US.md) - [MSFY.US](https://longbridge.com/en/quote/MSFY.US.md) - [MAGX.US](https://longbridge.com/en/quote/MAGX.US.md) - [02800.HK](https://longbridge.com/en/quote/02800.HK.md) - [03115.HK](https://longbridge.com/en/quote/03115.HK.md) - [07200.HK](https://longbridge.com/en/quote/07200.HK.md) - [07500.HK](https://longbridge.com/en/quote/07500.HK.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [.HXC.US](https://longbridge.com/en/quote/.HXC.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [AVGO.US](https://longbridge.com/en/quote/AVGO.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [DELL.US](https://longbridge.com/en/quote/DELL.US.md) - [09888.HK](https://longbridge.com/en/quote/09888.HK.md) - [BIDU.US](https://longbridge.com/en/quote/BIDU.US.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) - [09988.HK](https://longbridge.com/en/quote/09988.HK.md) - [BABA.US](https://longbridge.com/en/quote/BABA.US.md) - [01810.HK](https://longbridge.com/en/quote/01810.HK.md) - [09618.HK](https://longbridge.com/en/quote/09618.HK.md) - [JD.US](https://longbridge.com/en/quote/JD.US.md) - [09999.HK](https://longbridge.com/en/quote/09999.HK.md) - [NTES.US](https://longbridge.com/en/quote/NTES.US.md) - [02828.HK](https://longbridge.com/en/quote/02828.HK.md) - [06869.HK](https://longbridge.com/en/quote/06869.HK.md) - [601869.CN](https://longbridge.com/en/quote/601869.CN.md) - [01888.HK](https://longbridge.com/en/quote/01888.HK.md) - [00148.HK](https://longbridge.com/en/quote/00148.HK.md) - [81024.HK](https://longbridge.com/en/quote/81024.HK.md) - [80700.HK](https://longbridge.com/en/quote/80700.HK.md) - [HTCD.SG](https://longbridge.com/en/quote/HTCD.SG.md) - [89888.HK](https://longbridge.com/en/quote/89888.HK.md) - [83690.HK](https://longbridge.com/en/quote/83690.HK.md) - [MPNGY.US](https://longbridge.com/en/quote/MPNGY.US.md) - [HMTD.SG](https://longbridge.com/en/quote/HMTD.SG.md) - [89988.HK](https://longbridge.com/en/quote/89988.HK.md) - [HBBD.SG](https://longbridge.com/en/quote/HBBD.SG.md) - [XIACY.US](https://longbridge.com/en/quote/XIACY.US.md) - [81810.HK](https://longbridge.com/en/quote/81810.HK.md) - [HXXD.SG](https://longbridge.com/en/quote/HXXD.SG.md) - [89618.HK](https://longbridge.com/en/quote/89618.HK.md) ## Related News & Research - [Microsoft cuts 4,800 jobs across sales and Xbox. 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