Hong Kong stocks were traded lower on Tuesday, with the benchmark Hang Seng falling 240.5 pts or 1.11%. The HSCEI dipped 0.93%; the HSTECH sank 0.8%.
As to techs, BABA-SW (09988.HK) rose 0.26% to. The market rumored that activist investor Ryan Cohen acquired BABA stakes and urged the company to conduct more buybacks. TENCENT (00700.HK) lost 0.81%. MEITUAN-W (03690.HK) sank 1.21%.
Macro News: Based on preliminary calculation, China's GDP stretched 3% YoY in 2022 to RMB121.02 trillion, data from the National Bureau of Statistics (NBS) showed. The country's GDP elevated 2.9% YoY in the fourth quarter of 2022.
Company News: TENCENT (00700.HK)'s statement disclosed that it repurchased 950,000 shares of the company on the Stock Exchange on 16 January, at $364-376.2 per share, involving about $353 million.
NIO's ET5 electric sedan moved up in a China Passenger Car Association (CPCA) ranking of premium sedan sales, as it saw significant growth in deliveries in December. With 7,594 retail sales in December, the ET5 ranked No. 7 in China for premium sedan sales starting at more than 300,000 yuan ($44,310), according to the list released today by the China Passenger Car Association (CPCA).
Global News: U.S. futures traded in the red on Tuesday morning Asia session. The Dow Jones futures fell 0.18% while the Nasdaq futures sank 0.54%. The S&P 500 futures were trading lower by 0.35%.
Elsewhere in Asia-Pacific, Australia’s ASX 200 was trading lower by 0.12%. China’s Shanghai Composite index lost 0.25%.
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