HSI Opens Rising 23 pts; TENCENT Elevate

Stocks associated with the concept of "valuation system with Chinese characteristics" soared yesterday (19 June) after central SOE Guoxin Investment subscribed to the initial offering of the CSI Guoxin Guoxin Stock Connect SOE Premium Index ETF. Hong Kong stocks opened higher today's morning. $Hang Seng Index(800000.HK)$ opened 23 points or 0.1% higher at 18,453. $Hang Seng China Enterprises Index(800100.HK)$ opened 7 points or 0.1% higher at 6,595 points. $Hang Seng TECH Index(800700.HK)$ opened 6 points or 0.2% higher at 3,838.

On the tech front, $BABA-SW(09988.HK)$ opened dropping 0.3% at $73.95, $TENCENT(00700.HK)$ opened inclining 0.8% at $392, and $JD-SW(09618.HK)$ opened flat at $115.2. $MEITUAN-W(03690.HK)$ , $XIAOMI-W(01810.HK)$ , $BIDU-SW(09888.HK)$ , $NTES-S(09999.HK)$ , $KUAISHOU-W(01024.HK)$ and $BILIBILI-W(09626.HK)$ opened elevating 0.1% to 0.6%.

Auto stocks $BYD COMPANY(01211.HK)$ opened up 0.3% at $238.6, while $NIO-SW(09866.HK)$ opened up 1%.