Hong Kong stocks open higher, education companies jump, mainland property developers rebound
Hong Kong stocks open higher, education companies jump, mainland property developers rebound

Hong Kong stocks open higher, education companies jump, mainland property developers rebound

 

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Hong Kong stocks open higher on Thursday, with the Hang Seng Index up 0.17%, the Hang Seng China Enterprises Index up 0.2 , and the Hang Seng Tech Index up 0.47%.

Technology heavyweights are mostly higher, with Tencent up 1.4%, Xiaomi, Kuaishou and Meituan slightly higher, though NetEase and Alibaba open slightly lower.

Education companies open higher across the board, with New Oriental Education and its online education arm Koolearn Technology both surging more than 5% after the education group announced the plan for $400 million stock buyback. Mainland property developers and property management companies are rebounding after a sell-off one day earlier.

Hong Kong property developers, insurance companies and banks are mostly trading lower.

Chinese A-shares open higher on Thursday, with the benchmark Shanghai Composite Index up 0.36% at 3,287, the Shenzhen Component Index up 0.55% at 12,467 and the tech-heavy Chinext Price Index up 0.75% at 2,734.

Tourism and catering companies, power generation equipment makers, precious metal companies, semiconductor companies, automakers, oil companies and coal miners are outperforming, while property developers, liquor makers are trading lower.