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<HK Wrap-up>HSI Cascades 113 pts; Baidu Inches up 5%; Sensetime Dives 7%
2023/02/02 16:26
Hong Kong equities closed down after elevating in the early part of today's session. The HSI dropped 113 pts or 0.5%, to close at 21,958, on a turnover of $140.051 billion. The HSCEI cascaded 54 pts or 0.7%, to close at 7,505. The HSTECH lifted less than 1 pt, to close at 4,696.

Tech names broadly contracted. BABA-SW (09988.HK), TENCENT (00700.HK), MEITUAN-W (03690.HK) and JD-SW (09618.HK) retreated 0.5-1.9%, while XIAOMI-W (01810.HK) ascended 1.3%.

Related NewsC Suisse Chops GEELY AUTO(00175.HK) TP to $13, Rates Outperform
Artificial intelligence concept stocks BIDU-SW (09888.HK), MEITU (01357.HK) and WB-SW (09898.HK) ballooned 5%/ 5.2%/ 7.5%. KINGSOFT (03888.HK) surged 6.5%. Contrary to the upward trajectory charted by its peers, SENSETIME-W (00020.HK) slid 7.1%.

BYD COMPANY (01211.HK) inched up 0.8% on rosy sales volume growth in January 2023. LI AUTO-W (02015.HK), which reported a 23% YoY uptick in the delivery volume in January, burgeoned 1.9% over the session. NIO-SW (09866.HK) and GEELY AUTO (00175.HK) waned 5.3% and 3.3%, respectively.
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