On January 6, 2025, the Hong Kong stock market closed with mixed results. The Hang Seng Index (HSI) fell by 0.36%, the Hang Seng China Enterprises Index (HSCEI) decreased by 0.33%, the Hang Seng Tech Index (HSTECH) dropped by 0.18%, and the Hang Seng China-Affiliated Corporations Index (HSCCI) declined by 0.47%.
In terms of sectors, the steel sector saw significant gains, with Maanshan Iron & Steel rising by 10.22% and Chongqing Iron & Steel up by 4.71%. The blockchain sector also performed well, with Grandshores Technology surging by 22.22%. However, the property management sector experienced a sharp decline, with Colour Life falling by 2.42%.
Tencent fell by 1.16%. The stock has been on a downward trend for three consecutive days, with a notable inflow of HKD 7.7 million into Tencent's bullish warrants.
Xiaomi-W rose by 0.14%. Xiaomi's stock price surged over 1.5% on January 6, reaching HKD 36.8, a new historical high. The company has seen continuous gains for five weeks, with significant inflows into its bullish warrants.
XPeng-W increased by 3.36%. XPeng Motors and Volkswagen have agreed to expand their partnership to cooperate on ultra-fast electric vehicle charging networks in China, which includes opening their respective fast-charging networks to each other's customers.
NIO-SW rose by 3.98%. NIO's stock is expected to rebound in 2025 due to margin expansion, new model launches, and an expanding market presence. The company has also introduced a trade-in subsidy policy and zero down payment financing options.
JD-SW gained 1.12%. The stock saw a positive opening, with the Hang Seng Index rising by 0.45% and the Hang Seng Tech Index increasing by 0.67%.
UBTECH Robotics surged by 10.58%. Several senior executives of UBTECH have committed not to sell their shares for 12 months starting from January 5, 2025, which is seen as a sign of confidence in the company's future prospects.
Sunac China plummeted by 14.35%. The real estate sector faced widespread declines, with Sunac China leading the losses.
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