Geely soared to lead the market’s rally.
The Hong Kong market opened higher on Friday. Hang Seng index rose 81 points. H share index lost 2 points but technology rose 81 points. AIA rose 1.4% for 40-point gain. Geely rose 4% for 20-point gain. HK Exchanges rose 1.5% for 19-point gain. Alibaba rose 1.1% for 15-point gain. HSBC rose 0.7% for 15-point gain. On the contrary, China Mobile lost 10% for 65-point loss. CNOOC lost 4.83% for 15-point loss. CCB lost 0.85% for 13-point loss. China Unicom lost 11% to lead the losers. China Telecom lost 9.8%. New energy stocks continued to rise. BYD rose 4.2%. GCL rose 5.5%. Flat Glass rose 6.1%. Xinyi Solar rose 15%. A shares opened up 0.9%; Shanghai composite index rose 9 points. The market fluctuated after opening. Hang Seng index fell to negative territory for a moment but recovered to gain more than 300 points. China Mobile and banks like HSBC, CCB, ICBC fell. Tencent rose 1.4% for 36 point gain. Xiaomi rose 2.8% for 36-point gain. The blue chip technology stocks led a rebound by second line internet stocks. Weimob rose 5.6%. China Youzan rose 5.9%. Ming Yuan Cloud rose 2.8%. Kingsoft rose 3.8%. Kingdee rose 4.1%. Baidu entered into manufacturing agreement with Geely for its electric car venture. Geely rose 14%. Other auto makers followed higher. BYD rose 3.8%. Great Wall rose 2.3%. BAC rose 8.6%. A shares closed the morning down 0.62%. Shanghai composite index closed down 22 points. Hang Seng index closed the morning at the top of 27899, up 351 points. H share index closed up 183 points. Technology index closed up 250 points. Turnover was $133.8 billion.
The market was little changed in early afternoon. Hang Seng index gained more than 300 points. Geely rose 20% for 78 point gain to lead the blue chips. AIA rose 1.85% for 53-point gain. HK Exchanges rose 2.4% for 30-point gain. Tencent rose 1% for 27-point gain. On the contrary, China Mobile lost 7% for 45-point loss. China Unicom lost 8.3% to top the losers. HSBC lost 0.7% for 18-point loss. CNOOC lost 2% for 8 point loss. Handset suppliers rose. Sunny Optical rose 4.3%. AAC rose 2.5%. Bitcoin soared to US$40000 and above. Mining machine shares were mixed. Grandshores rose 23%. However, Huobi Technology lost 4% to profit taking. New energy stocks opened sharply higher this morning. These shares fell to profit taking later in the day. GCL lost 1.4%. Flat Glass lost 4%. Xinyi Energy lost 1.5%. Shunfeng CE lost 5%. Auto stocks followed Geely higher. BYD rose 2%. Great Wall rose 4.3%. BAC rose 7%. However, Wuling lost 7.3%. A shares index closed down 0.27%. Shanghai composite index closed down 9 points. Hang Seng index reached a high of 27920, up 372 points, and closed up 329 points. H share index closed up 159 points. Technology index closed up 229 points. Turnover was $270.3 billion.
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