Tencent up 2%, XPeng up 6%: Hong Kong Stocks Rebound

South China Morning Post03-18

Hong Kong stocks rebounded on Monday after a batch of government data showed China’s economic recovery was still tentative, as retail sales and employment data both lagged street estimates, while ...

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The Tech Index climbed 1.2 per cent while the Shanghai Composite Index added 0.3 per cent.Tencent gained rose 1.9 per cent to HK$289.20. E-commerce giant Alibaba rose 0.4 per cent to HK$72.20, food delivery company Meituan gained 0.6 per cent to HK$89.95 and technology firm NetEase retreated 1.8 per cent to HK$167. JD.com 3.2 per cent to HK$107.80. NIO rose 4.8 per cent to HK$46.25. XPeng rose 5.7 per cent to HK$39.95.Sportswear maker Li Ning lost 3.5 per cent to HK$19.98 and Longfor Group weakened 4 per cent to HK$10.12, leading losses among mainland developers.A batch of economic data released on Monday broadly disappointed investors tracking the recovery in the world’s second largest economy. Retail sales grew 5.5 per cent during the January to February period and jobless rate rose to 5.3 per cent, both missing estimates. 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