Alibaba, NIO Stocks Rise: Hang Seng Index Today – Alibaba Group Holding (NYSE: BABA)

Hong Kong markets opened higher on Friday, with the benchmark Hang Seng up nearly 1% in morning trade, mostly led by tech stocks after China issued gaming licenses to a number of companies, in a move that could potentially impact the gaming industry. Indicate your action. may be lax.

hong kong stocks today
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alibaba group holding Limited Dad 5.69% ink range 6.65%
Baidu Inc Beedu 4.36%
Tencent Holdings Limited TCEHY 1.3%
Meituan Mpngf 6.86%
NIO Inc nio 1.26%
XPEng Inc XPEV 0.77%
Lee Auto ink Took 5.13%

Alibaba shares rose more than 5% in morning trading, while Meituan shares rose more than 6%. Shares of also rose more than 6%.

Macro News: China’s Foreign Ministry insisted on the President Xi Jinping was not criticizing the Prime Minister of Canada Justin Trudeau Xi was seen confronting him later at the G20 summit over the alleged leak from an informal meeting held on Tuesday, Reuters reported.

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Bloomberg cited sources as saying that Chinese regulators have asked banks to report on their ability to meet short-term obligations following a sharp selloff in their bond market.

Company News: Alibaba reported second-quarter revenue up 3% year-over-year to $29.12 billion, missing the $29.45 billion consensus.

Tencent Holdings Receives Approval For Its First New Major Game Title, “Metal Slug: Awakening,” Since Chinese regulators restarted licensing this year.

Top Gainers and Losers: Alibaba Health Information Technology Ltd. And Meituan The Hang Seng were the top gainers on Friday, climbing over 8% and 7% respectively. Henderson Land Development Company Limited And New World Development Company Limited Stocks were the top losers with losses of over 2% and 1.5% respectively.

Global News: US futures traded mixed in the Asian session on Friday morning. Dow Jones futures were down 0.03% while Nasdaq futures rose 0.27%. S&P 500 futures were trading lower by 0.32%.

Elsewhere in Asia-Pacific, Australia’s ASX 200 was up 0.12%. Japan’s Nikkei 225 was trading 0.17% higher while China’s Shanghai Composite index was down 0.18%. South Korea’s Kospi rose 0.62%.

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