Hong Kong stocks, A-shares open higher as market concerns ease, tech stocks trading higher, defence stocks in correction
Hong Kong stocks, A-shares open higher as market concerns ease, tech stocks trading higher, defence stocks in correction

Hong Kong stocks, A-shares open higher as market concerns ease, tech stocks trading higher, defence stocks in correction

 

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Hong Kong stocks open higher on Thursday as market concerns over geopolitical tensions are easing, with the benchmark Hang Seng Index up 1.2% to get back above 20,000 mark at 20,011, the Hang Seng China Enterprises Index up 1.3% and the Hang Seng Tech Index up 2.25%.

Technology heavyweights are higher across the board, with Alibaba surging nearly 6%, Baidu, Meituan, JD.com and Kuaishou up more than 2%, Xiaomi, Tencent and NetEase up more than 1%.

Insurance companies are trading higher and semiconductor companies extends the rally in the previous day. Home appliance makers, dairy companies, e-cigarette companies are mostly higher. Casino operators are slumping. Food makers, healthcare companies and shipping companies are mostly falling.

Chinese A-shares open open higher, with the benchmark Shanghai Composite Index up 0.5% to 3,179, the Shenzhen Component Index up 0.6% and the tech-heavy Chinext Price Index up 0.6%.

Chipmakers, software companies, drugmakers, education companies and rare earth producers continue to rally and new energy related stocks are trading higher.

Defence stocks are in correction after previous rally, automakers, auto parts suppliers, coal miners, shipping companies, and oil companies are mostly lower.