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Alibaba and auto stocks led the market’s surge.
The Hong Kong market opened higher on Tuesday. Hang Seng index opened up 243 points, to rise above 20000 points. H share index rose 104 points and technology index up 91 points. Te...
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Alibaba and auto stocks led the market’s surge.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The Hong Kong market opened higher on Tuesday. Hang Seng index opened up 243 points, to rise above 20000 points. H share index rose 104 points and technology index up 91 points. Technology stocks led the rally. Alibaba rose 3.43% for 40-point gain. Meituan rose 2.9% for 30-point gain. AIA rose 1.7% for 17-point gain. Tencent rose 1.26% for 15-point gain. Mainland banks rose. CCB rose 0.91% for 11-point gain. ICBC rose 1.53% for 10-point gain. Netease rose 4.5% to lead the gainers. A shares opened up 3 points. Mainland banks were strong. CM Bank rose 3% for 10-point gain. Ping An rose 1.7% for 10-point gain. Technology stocks rose. Bili rose 4.8%.. Baidu rose 4.1%. JD rose 4%. JD Health rose 3.8%. The market rose further after opening, with Hang Seng index gained more than 300 points. Auto stocks rose. BYD rose 3% for 12-point gain. Geely rose 2.2%. Nio rose 6.6%. Li Auto rose 3% and XPeng rose 3.2%. Handset suppliers rose. Sunny Optical rose 11.5% to lead the blue chips. AAC rose 1.5%.Cowell rose 1.5%. Q-Tech rose 1.3%. The market rose further in midmorning. Hang Seng index soared more than 400 points. Alibaba rose 4.55% for 53-point gain. Tencent rose 3% for 35-point gain. Meituan rose 3.24% for33-point gain. AIA rose 3.1% for 31-point gain. A shares closed the morning up 9 points. Hang Seng index closed up 455 points, H share index up 174 points and technology index up 171 points. Turnover was $62.5 billion.

The market soared in the afternoon. Hang Seng index gained more than 500 points in early afternoon. Optimism grew from the meeting of digital economy in Beijing. Technology stocks led the rally. Alibaba rose 8.4% for 100-point gain. Meituan rose 7.3% for 75-point gain. Tencent rose 5.2% for 75-point gain. AIA rose 4.65% for 47-point gain. HK Exchanges rose 4.2% for 33-point gain. CM Bank rose 6.8% for 23-point gain. Sunny Optical rose 11% to lead the gainers. AAC rose 4.5%. Auto stocks rose further. BYD rose 7.3%. Geely rose 9.1%. XPeng rose 5.5%. Nio rose 9.1%. Li Auto rose 8.2%. Great Wall rose 11%. Wuling rose 18.7%. Auto parts stocks soared. Minth Group rose 6.6%. Nexteer rose 5%. Qiling rose 5.8%. Power Xin Cheng rose 87%. Shipping stocks rose. OOIL rose 4.2%. Pacific Basin rose 5.3%. Non-ferrous metals rose. MMG rose 7.8%. Chalco rose 4.2%. Jiangxi Copper rose 2.6%. The market rose further in midafternoon. Hang Seng index soared more than 600 points. A shares closed up 17 points. Hang Seng index closed up 652 points, H share index up 250 points and technology index up 233 points. Turnover was $124.1 billion.

Overseas markets rose on the coattails of Asian markets overnight. European markets gained more than 1%. DAX rose 221 points. CAC rose 82 points and FTSE rose 53 points. Technology stocks led American markets. Dow Jones rose 431 points. S & P rose 81 points and Nasdaq rose 322 points. Hong Kong ADR’s rose 5 points. Night future rose 90 points. We expect the market to rise today.  
 
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