Alibaba, Nio Down Over 2%: Hang Seng Indices Today – Alibaba Group Holding (NYSE: BABA)

Hong Kong shares opened in the red on Friday, with the benchmark Hang Seng down more than 1% in early trade as market attention shifted to rising COVID-19 cases in China, which reported a record-high number of infections on Thursday. informed of.

hong kong stocks today
inventory motion
alibaba group holding Ltd Dad -2.36% ink range -2.2%
Baidu Inc Beedu -2.15%
Tencent Holdings Limited TCEHY -2.71%
Meituan Mpngf -2.95%
NIO Inc nio -2.06%
XPEng Inc XPEV -0.89%
Lee Auto ink Took -1.21%

Meituan shares fell about 3% each, while those of Alibaba and Nio declined more than 2% each in morning trading.

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Macro News: China reported a record number of COVID-19 infections on Thursday amid a lockdown, mass testing and other restrictions.

ANZ Research said in a note, “With new coronavirus variants emerging every six months, China’s economy has been hit in a cyclical manner through 2021. Taking the current situation into account, we expect full-year GDP growth to be 3.0%.” Let’s guess.”

According to a Bloomberg report, China has indicated that more monetary stimulus is on the cards, including a possible cut in the reserve requirement ratio for banks.

Company News: China Evergrande Group egrnf According to a Reuters report, talks are underway with a Chinese municipal district in the city of Wuhan, which previously took back 134,500 hectares of land near a unit of the group.

NIO has started its delivery ET7 CnEVPost reported on the model in Denmark after the flagship sedan was delivered to consumers in Sweden last week.

Top Gainers and Losers: Longfour Group Holdings Ltd And China Resource Land Limited Each of the Hang Seng components gained more than 2%. Wuxi Biologics (Cayman) Inc. And Henderson Land Development Company Limited were among the top losers, each falling more than 1%.

Global News: US futures were trading in green in the Asia session on Friday morning. Dow Jones futures were up 0.1%, while Nasdaq futures rose 0.39%. S&P 500 futures were trading 0.2% higher.

Elsewhere in Asia Pacific, Australia’s ASX 200 was up 0.24%. Japan’s Nikkei 225 traded 0.14% lower while China’s Shanghai Composite index lost 0.1%. South Korea’s Kospi lost 0.07%.

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