17th January 2025 – (Hong Kong) The Hang Seng Index exhibited mixed performance today following better-than-expected economic data from mainland China. Opening down 23 points at 19,499, the index experienced a decline of 99 points to a low of 19,423 before rebounding to a peak of 19,581, ultimately closing up 23 points, or 0.12%, at 19,546. The National Enterprises Index slipped 1 point, or 0.01%, to 7,097, while the Technology Index rose by 27 points, or 0.61%, to 4,444. Total turnover on the main board reached HK$31.3 billion.
In the technology sector, stocks showed varied results. Tencent fell by 0.4%, while Weimob surged by 9%. Alibaba dropped 0.1%, Meituan fell 0.6%, Xiaomi gained 0.4%, JD.com rose 2%, and Kuaishou increased by 0.4%.
Financial stocks also displayed a mixed bag, with HSBC Holdings up 0.5% and AIA rising by 0.9%. In contrast, Ping An Insurance dipped 0.2%, and Hong Kong Exchanges and Clearing added 0.3%.
Chip stocks continued to attract attention, with Semiconductor Manufacturing International Corporation (SMIC) surging by 5.8% and Hua Hong Semiconductor rising by 3.4%.
Meanwhile, shares of Vanke faced downward pressure, dropping 7.6% amid unfounded rumours regarding the company’s president being taken by the police, despite the denial of such claims.
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