Hong Kong stocks opened mixed on Thursday morning, with the benchmark Hang Seng gaining 0.38%, while EV stocks declined. Shares of XPeng, Li Auto and Nio fell over 1%.
| Stock | Movement |
|---|---|
| Alibaba Group Holding Ltd. BABA | 0.06% |
| JD.com Inc JD | -0.45% |
| Baidu Inc BIDU | -1.17% |
| Tencent Holdings Ltd. TCEHY | 0.4% |
| Meituan MPNGF | 0.4% |
| Nio Inc NIO | -1.10% |
| XPeng Inc XPEV | -2.61% |
| Li Auto Inc LI | -1.89% |
The People’s Bank of China (PBOC) kept the rate on 400 billion yuan ($57.46 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.75%, according to Channel News Asia.
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Macro News: China’s cyberspace regulator on Wednesday proposed a series of amendments to the nation’s cybersecurity law that includes increasing the size of fines for some violations, reported Reuters.
Chinese President Xi Jinping traveled to Kazakhstan on Wednesday for a state visit, his first foreign trip since the COVID-19 pandemic as he tries to gain alliances to counter U.S. influence on the world order, reported Bloomberg.
Company News: Alibaba launched its second annual small business grants program, known as the “Manifest” Grants Program, to enhance the competitive…
