Apr 29, 02:19 AM

Hang Seng Tech Index Rises with Alibaba, Li Auto, NIO Gains; Bright Smart Up 82%, Yunfeng Financials Up 57.5%; HKEX Engages US-Listed Firms

The Hang Seng Index showed mixed performance over the two-day period, opening with gains of around 0.42% to 0.46% but closing slightly down by 0.04% on April 28 and rising modestly by 0.16% on April 29. The Hang Seng Tech Index demonstrated stronger gains, increasing by 0.57% to 0.67% at opening and closing with gains of 0.12% and 0.62% respectively. Key stocks such as Li Auto and Alibaba experienced notable increases, with Li Auto rising nearly 2% on April 28 and over 2% on April 29, and Alibaba shares spiking in Hong Kong amid its strategic moves against DeepSeek's disruption. NIO also saw a rise of approximately 5% on April 29. BYD dropped about 4% on April 28, while Bright Smart and Yunfeng Financials closed with substantial gains of 82% and 57.5% respectively. Additionally, Ali Health rose nearly 10%, contributing to the Hang Seng Tech Index's over 2% increase on April 29. Wuxi AppTec reported a first-quarter net profit of 3.672 billion yuan, marking an 89.06% year-over-year increase, and its stock rose over 5% in Hong Kong. Market regulators HKEX and the Hong Kong Securities and Futures Commission have engaged with some US-listed Chinese companies regarding potential "homecoming" plans to relist or return to Hong Kong markets.