HK Stocks Close Higher. Weimob Soars 27%; Air China Jumps 10%; Meituan, JD.com Gain 5%; Xiaomi Rises Nearly 3%

Market Watcher01-14

On January 14, 2025, the Hong Kong stock market closed higher. The Hang Seng Index (HSI) rose by 1.83%, the Hang Seng China Enterprises Index (HSCEI) increased by 2.10%, the Hang Seng Tech Index (HSTECH) surged by 3.08%, and the Hang Seng China-Affiliated Corporations Index (HSCCI) climbed by 0.94%.

In terms of sectors, the Hong Kong aviation stocks saw significant gains, with Air China rising 10.13% and China Eastern Airlines surging 14.96%. The SaaS concept stocks also performed well, with Weimob Inc skyrocketing 26.78%. The biotech sector was strong, with BeiGene up 7.69%.

Meituan-W ended its six-day losing streak and rebounded over 5%, closing up 5.02%. The stock had accumulated a 20% decline over the past month.

Xiaomi-W rose 2.90%. The global smartphone market achieved positive growth for five consecutive quarters in 2024, with Xiaomi being the only company among the top three to achieve year-on-year growth.

JD-SW surged 5.35%, driven by strong performance in the China ADRs and ETFs in overnight trading.

Kuaishou-W gained 4.90% as the impending TikTok ban led to a significant user migration to the Xiaohongshu platform, boosting its popularity.

NIO-SW fell 1.37% due to weak insurance registrations for major electric vehicle makers last week, with Nio not making it into the published lists.

WuXi AppTec rose 4.13% as the company expects accelerated revenue growth in 2025, with 24 PPQ projects and profitability from its Ireland production facility.

Leapmotor soared 13.00% after announcing a positive net profit in Q4 2024, becoming the second profitable new energy vehicle company.

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Comments

  • farmi
    01-14
    farmi
    Great article, would you like to share it?
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