HSI Opens 189 pts Down; Techs Wane as HSBC Stabilizes Amid Falling Mkt
Hong Kong stocks opened lower in the morning. $Hang Seng Index (800000.HK)$ opened 189 points or 1% lower at 18,826, $Hang Seng China Enterprises Index (800100.HK)$ opened 76 points or 1.2% lower at 6,323, and $Hang Seng TECH Index (800700.HK)$ opened 64 points or 1.6% lower at 4,064.
For technology stocks, $BABA-W (09988.HK)$ started 1.3% lower at $88.5, as $TENCENT (00700.HK)$ opened 1.7% lower at $330.6. $MEITUAN-W (03690.HK)$ , $XIAOMI-W (01810.HK)$ , $JD-SW (09618.HK)$ , $BIDU-SW (09888.HK)$ and $NTES-S (09999.HK)$ each opened down 2% to 2.8%. $BILIBILI-W (09626.HK)$ opened declining 4.2%.
For financial stocks, $HSBC HOLDINGS (00005.HK)$ opened incrementing by 0.4% at $63.2, while $HKEX (00388.HK)$ and $AIA (01299.HK)$ opened declining by 0.9% and 0.6%.
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HopelessChi : Chinese companies listed at HKEX valuation can be negative now. forward looking FCF just to SBB like tencent?