Hong Kong stocks open sharply higher, tech stocks rally

 

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Hong Kong stocks open sharply higher on Thursday, with the Hang Seng Index up 2.6%, the Hang Seng China Enterprises Index up 2.9% and the Hang Seng Tech Index surging 4.1%. 

Technology heavyweights are surging, with JD.com up nearly 9%, Alibaba up over 8%, Meituan up over 6% and Tencent up more than 4%.New Oriental Education surges more than 15% after reporting stronger-than-expected earnings for the first quarter of fiscal year 2023. Koolearn Technology up more than 8%. 

E-cigarette companies, automakers and solar power companies are mostly higher.

Chinese A-shares open up, with the Shanghai Composite Index up 0.18% at 3,005, the Shenzhen Component Index up 0.23% and the tech-heavy Chinext Price Index up 0.18%. 

Education companies, liquor makers, telecom equipment makers, home appliance makers, mineral companies are leading the gains.

Healthcare companies and shipping companies are mostly lower.