• 18
  • 3
  • Favorite

Hong Kong Stocks Shine After China Datas; Meituan Jumps 10%; Alibaba Gains 4%

Tiger Newspress10-18

Hong Kong stocks extended gains in afternoon trading after China datas.

China's Third-Quarter GDP grew 4.6%, slightly beating expectations; Industrial output, retail sales beat, expand faster than August; Jan.-Sept. fixed investment also rises more than expected.

Meanwhile, PBOC Governor said China will cut RRR Furthery by 25 to 50 bps based on market liduidity before end-2024, and to cut LPR by 20 -25 bps on Oct.21; PBOC officially launched securities, funds, and insurance company swap facility (sfisf) operations starting today; PBOC launched special re-lending program with initial quota of 300 billion yuan, interest rate at 1.75%, one-year term.

The Hang Seng Index rose nearly 4%, while the Hang Seng Tech Index rose 6.2%.

In terms of individual stocks, securities companies and semiconductor companies surged in afternoon trading. CMSC and HG SEMI rose 31%; SWHY rose 25%; SMIC rose 17%; CICC rose 16%.

While tech stocks also jumped. Meituan rose 10%; Bilibili rose 9%; Trip.com rose 8%; BYD and Xiaomi rose 7%; JD.com, Baidu, and Alibaba rose 4%; XPeng rose 3%; NIO rose 2%.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment3

  • Andrewinho
    ·10-18
    👏👏👏🚀🚀🚀
    Reply
    Report
  • Andrewinho
    ·10-18
    Great!! 👏👏👏👏
    Reply
    Report
  • Brrnie
    ·10-18
    Bullshxxt news. Honkong stocks dive 
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial