On July 17, Futu news reported that the three major Hong Kong stock indices hit bottom and rebounded. As of press time, the Hang Seng Index rose 0.18%, the National Index rose 0.01%, and the Technology Index rose 1.02%.
In terms of sector, most network technology stocks rose, with Xiaomi Group up more than 2%, jd.com and NetEase up nearly 2%, Alibaba and Meituan up more than 1%; Tencent fell more than 1%.
Mainland real estate stocks collectively rose, with China Vanke rising by more than 4%, C&D International Group rising by nearly 4%, Greentown China, Yuexiu Property, China Overseas Development, and CIFI Holdings Group rising by more than 3%.
New energy vehicle stocks generally rose, with NIO rising by more than 4%, Xpeng and Li Auto rising by more than 3%, Lixiang Auto rising by more than 2%; BYD fell by more than 1%.
Insurance stocks rose, with China Pacific Insurance rising by more than 3%, China Life Insurance rising by more than 2%, New China Life Insurance and Ping An Insurance rising by more than 1%.
Petroleum stocks weakened, with CNOOC falling by more than 5%, Sinopec Corp falling by more than 4%, and PetroChina falling by more than 2%.
Most nonferrous metals stocks fell, with Aluminum Corporation of China falling by nearly 6%, CMOC Group Limited falling by more than 5%, China Hongqiao falling by more than 4%, and Zijin Mining Group falling by more than 2%.
In terms of individual stocks,$LI AUTO-W (02015.HK)$Xpeng rose nearly 4%. The company established a new entity organization for autonomous driving technology and accelerated the research and development of self-driving technology.
$BABA-SW (09988.HK)$CITIC Securities rose by more than 1%. If Alibaba successfully converts to a dual primary listing at the end of August, it may be included in the Hong Kong Stock Connect on August 16 for review.
$CHERVON (02285.HK)$It rose by nearly 16% during the session and now rises by more than 10%. The company expects a net profit of approximately US$60-65 million for the interim period, a year-on-year increase of approximately 22% to 33%.
$CHALCO (02600.HK)$Aluminum Corporation of China fell by nearly 6%. The off-season for consumption has put pressure on aluminum prices, and short-term price fluctuations are bottoming out.
Editor/Jayden