Hong Kong stock market closed lower. The Hang Seng Index (HSI) fell by 0.48%, the Hang Seng China Enterprises Index (HSCEI) fell by 0.38%, the Hang Seng Tech Index (HSTECH) fell by 0.58%, and the Hang Seng China-Affiliated Corporations Index (HSCCI) fell by 0.67%.
In terms of sectors, the Hong Kong retail stocks sector rose by 1.35%, with notable gains in Luk Fook Holdings and Prada. The Hong Kong Tesla concept stocks sector rose by 1.28%, with BYD COMPANY gaining 1.68%. The Hong Kong carbon neutrality sector rose by 1.24%, with China Longyuan Power Group gaining 1.24%. The Hong Kong catering stocks sector rose by 1.24%, with Haidilao gaining 3.09%. However, the Hong Kong popular technology stocks sector fell by 0.90%, with Tencent Holdings and Alibaba both experiencing declines.
Alibaba fell by 1.13%. Alibaba decided to sell its 100% stake in Intime Retail to a consortium composed of Youngor Group and Intime management team members, expecting a loss of approximately RMB 9.3 billion. This move marks Alibaba's further slimming down to focus on its core business.
Meituan fell by 0.63%. Walmart China and Meituan announced a strategic cooperation to leverage their respective strengths in instant delivery, product variety, product operation, digital customer capabilities, and digital marketing. This collaboration aims to create a new retail momentum centered on customers, providing a more convenient shopping experience. Currently, all Walmart stores nationwide have fully launched on Meituan and are connected to Meituan's delivery service.
ZTE rose by 4.64%. ZTE's stock price surged in both the Hong Kong and A-share markets, attracting widespread market attention. Institutions are optimistic about the company's new round of growth, particularly in the booming computing power business.
Fosun Pharma rose by 0.28%. The stock price of Fosun Pharma's subsidiary, Henlius, surged by 5.39% today, driven by the company's latest announcement that the conditions for the privatization of Henlius by its major shareholder, Fosun Pharma, through a merger have been fully met. This positive news reflects Fosun Pharma's confidence and determination in Henlius' development, thus boosting Henlius' stock price today.
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