HSI Opens Inclining 74 pts; EAST BUY Collapses 15%, as JD Lifts 3%+

Hong Kong stocks opened higher in the morning, with $Hang Seng Index (800000.HK)$ opening 74 points or 0.4% higher at 17,079. $Hang Seng China Enterprises Index (800100.HK)$ opened 33 points or 0.6% higher at 6,050. $Hang Seng TECH Index (800700.HK)$ opened 22 points or 0.7% higher at 3,443.

$EAST BUY (01797.HK)$ shares opened cratering 15% at $10.54 after Dong Yuhui quit the company and the company announced its intention to buy back up to RMB500 million worth of shares. $NEW ORIENTAL-S (09901.HK)$ from the same series plummeted 7.8% lower to open at $53. The central government's subsidy policy on home appliance trade-in has continued to stimulate related stocks, with $JD-SW (09618.HK)$ starting 3.1% higher at $102.4 and $HAIER SMARTHOME (06690.HK)$ starting 1.6% higher.

Chip equipment stock $ASMPT (00522.HK)$ shares crashed sharply for two days after its results, and opened another 3.4% lower at $76 this morning.

In other tech stocks, $BABA-W (09988.HK)$ opened rising 0.4% at $73.6, $TENCENT (00700.HK)$ opened elevating 0.5% at $352.8, and $MEITUAN-W (03690.HK)$ opened lifting 1.3% at $108.5. $XIAOMI-W (01810.HK)$ , $NTES-S (09999.HK)$ and $BILIBILI-W (09626.HK)$ inclined 0.5% to 1.2% at open, while $BIDU-SW (09888.HK)$ dived 0.4% at open.