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Nio, EV Shares Drop Over 1%, While Alibaba, Tech Peers Mixed: What's Weighing on Hong Kong Stocks Today

Benzinga Real-time News ·  Sep 15, 2022 11:10

Hong Kong stocks opened mixed on Thursday morning, with the benchmark Hang Seng gaining 0.38%, while EV stocks declined. Shares of $XPENG-W (09868.HK)$, $Li Auto-W (02015.HK)$ and $NIO-SW (09866.HK)$ fell over 1%.

Hong Kong Stocks Today
StockMovement
$BABA-SW (09988.HK)$
0.06%
$JD.com, Inc.-SW (09618.HK)$
-0.45%
$BIDU-SW (09888.HK)$
-1.17%
$TENCENT (00700.HK)$
0.4%
$Meituan-W (03690.HK)$
0.4%
Nio Inc -1.10%
XPeng Inc -2.61%
Li Auto Inc -1.89%

The PBOC kept the rate on 400 billion yuan ($57.46 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.75%, according to Channel News Asia.

Company News: Alibaba launched its second annual small business grants program, known as the "Manifest" Grants Program, to enhance the competitive edge of products by US small and medium-sized businesses (SMBs).

$Tesla (TSLA.US)$ Chair Robyn Denholm has defended the carmaker's focus on China and plans to grow further in the country, saying hitting a goal of making 20 million vehicles a year by 2030 will require manufacturing capabilities on every continent, reported Bloomberg.

Top Gainers and Losers: $Country Garden Services Holdings (06098.HK)$ and $WUXI BIO (02269.HK)$ gained over 7% each, while $ENN ENERGY (02688.HK)$ and $HENGAN INT'L (01044.HK)$ lost over 0.6% each.

Global News: U.S. futures traded in the green on Thursday morning Asia session. The Dow Jones futures were up 0.06% while the Nasdaq futures gained 0.09%. The S&P 500 futures rose 0.09%.

Elsewhere in Asia, Australia's ASX 200 gained 0.36%. Japan's Nikkei 225 was up 0.12% while China's Shanghai Composite index gained 0.5%. South Korea's Kospi was up 0.1%.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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