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Hong Kong stocks open slightly higher on Thursday, with the benchmark Hang Seng Index up 0.1%, the Hang Seng China Enterprises Index up 0.23%, the Hang Seng Tech Index up 0.38%.
Technology heavyweights are mostly higher, JD.com and Alibaba Group both up about 1%. US-listed Chinese companies are mostly trading higher, with Huazhu Group, Trip.com and New Oriental Education up more than 4%.
Insurance companies and banks are sliding, while bitotech companies rally. Mainland property developers and property management companies rebound after a sell-off one day earlier.
Chinese A-share open lower, with the Shanghai Composite Index down 0.21%, the Shenzhen Component Index down 0.24%, and the tech-heavy Chinext Price Index down.
Electric power companies and air conditioner makers rally, as heatwaves hit several regions. Construction machinery makers, banks, property developers and automakers are mostly lower.
The People’s Bank of China (PBOC) raised the yuan’s daily fixing by 17 pips to 6.7265 per US dollar on Thursday, compared to a fixing of 6.7282 one day earlier.
The PBOC injects 3 billion yuan to the banking system via 7-day reverse repurchase agreement (reverse repo) on Thursday, while 3 billion yuan reverse repo expires, leaving a net zero injection.