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<H Shrs>HSI Opens Up 152 Pts; BABA-W Ebbs 2%+ Post-Results; NIO-SW Dives ~7%
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The HSI opened 152 points or 0.6% higher at 26,046. The HSCEI rallied 58 points or 0.6% to 9,216. The HSTECH climbed 37 points or 0.7% to 5,649. BABA-W (09988.HK) opened down 2.4%, the worst performer among blue chips. Its 2FQ non-GAAP net profit tumbled 71.7% YoY to RMB10.352 billion, in line with expectations. Management expects a slowdown in next quarter's e-commerce CMR growth owing to transaction fee charges that have taken place starting from September 2024. In contrast, MEITUAN-W (03690.HK) rallied 4.2% at open, making it the best-performing blue chip. According to Nomura, BABA-W revealed that its unit losses in instant commerce had halved by mid-December compared to July and August, and its instant commerce losses for this quarter are estimated to narrow markedly, which will be favorable for MEITUAN-W. Among other tech stocks, TENCENT (00700.HK), XIAOMI-W (01810.HK), and NTES-S (09999.HK) opened inclining 0.6%. KUAISHOU-W (01024.HK) grew 1.2%. BILIBILI-W (09626.HK) edged 0.2% higher. BIDU-SW (09888.HK) dipped 0.9%. It has established a new department for foundational and application model research, which will report to Robin Li directly. JD-SW (09618.HK) added 0.4%. It refuted rumors of issuing bonds linked to JD Health equity. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) lost 0.2% and 0.1%. Carmaker NIO-SW (09866.HK) tumbled nearly 7% at open. It trimmed its 3Q25 non-GAAP losses to RMB2.76 billion. Nomura noted that its gross margin beat forecasts last quarter, but management's delivery guidance for 4Q25 fell short of expectations. On the bright side, BYD COMPANY (01211.HK) and XPENG-W (09868.HK) leaped 2.3%. GEELY AUTO (00175.HK) also gained nearly 1%. AAStocks Financial News |
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