Hong Kong markets rebound as technology stocks show mixed results

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25th April 2024 – (Hong Kong) The Hang Seng Index demonstrated resilience today, initiating trading with a modest dip but subsequently rallying to a peak gain of 133 points, settling up 90 points or 0.52% at 17,292. Concurrently, the H-share Index saw an increase of 27 points or 0.45%, closing at 6,128, while the Technology Index modestly ascended by 9 points or 0.26%, ending at 3,583. The total trading volume on the main board reached HK$34 billion.

In the realm of large technology firms, the day concluded with variegated performances. Tencent Holdings registered a slight increase of 0.1%, Alibaba Group climbed by 1.2%, while Meituan saw a decrease of 0.5%. JD.com Inc. enjoyed a rise of 0.8%, Xiaomi Corp fell by 0.4%, and Kuaishou Technology experienced a 0.7% increase.

The financial sector displayed mixed fortunes: HSBC Holdings declined by 0.3%, AIA Group soared by 1.9%, and Ping An Insurance Group Co. of China Ltd advanced by 2.3%. Notably, Hong Kong Exchanges and Clearing Ltd outperformed with a robust gain of 3.5%.

In terms of stocks influenced by earnings announcements, New Oriental Education & Technology Group experienced a significant drop of 17% following its earnings report, whereas Great Wall Motors Co. surged by 10%.