Hong Kong Stocks Fall; SMIC Surges 7%; Xiaomi Gains 2%; XPeng Drops 5%

Market Watcher2024-12-30

Hong Kong stocks fall as investors await greater clarity on stimulus from Beijing.

The Hang Seng Index fell 0.3% as of 11.03 am local time, while the Hang Seng Tech Index dropped 0.6%.

Meanwhile, chipmaker SMIC surged 7%, WEIMOB INC rose 5% and biotech firm WUXI APPTEC rallied 3%.

XIAOMI-W rose 2%. The company announced that as of now, the total deliveries of the Xiaomi SU7 have exceeded 130,000 units for the year, achieving all annual targets ahead of schedule.

Hotpot chain HAIDILAO lost 6%, and online travel agency TRIP.COM-S dropped 4%.

Hong Kong-listed shares of Chinese electric vehicle makers fell on Monday.

XPENG-W fell 5%; NIO-SW, GEELY AUTO fell 3%; LI AUTO-W fell 2%.

China still has room to cut the reserve requirement ratio for banks it is higher than what is prevailing in other global economies, the People’s Daily reported, citing central bank governor Pan Gongsheng.

China is expected to release an official purchasing managers’ index report for the manufacturing sector on Tuesday. The reading was expected to stay at 50.3, above the 50 line that divides expansion and contraction, according to estimates collected by Bloomberg.

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The company announced that as of now, the total deliveries of the Xiaomi SU7 have exceeded 130,000 units for the year, achieving all annual targets ahead of schedule.</p><p>Hotpot chain <a href=\"https://laohu8.com/S/06862\">HAIDILAO</a> lost 6%, and online travel agency <a href=\"https://laohu8.com/S/09961\">TRIP.COM-S</a> dropped 4%.</p><p>Hong Kong-listed shares of Chinese electric vehicle makers fell on Monday. </p><p><a href=\"https://laohu8.com/S/09868\">XPENG-W</a> fell 5%; <a href=\"https://laohu8.com/S/09866\">NIO-SW</a>, <a href=\"https://laohu8.com/S/00175\">GEELY AUTO</a> fell 3%; <a href=\"https://laohu8.com/S/02015\">LI AUTO-W</a> fell 2%.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/fb0ce458345286a80cb75b41a63b54c3\" title=\"\" tg-width=\"382\" tg-height=\"869\"/></p><p style=\"text-align: start;\">China still has room to cut the reserve requirement ratio for banks it is higher than what is prevailing in other global economies, the People’s Daily reported, citing central bank governor Pan Gongsheng.</p><p style=\"text-align: start;\">China is expected to release an official purchasing managers’ index report for the manufacturing sector on Tuesday. 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