Kuaishou Technology (01024.HK) saw its stock price surge 6.46% in pre-market trading on Wednesday, outperforming the broader Hong Kong market and its tech peers. The significant uptick comes as Hong Kong stocks opened on a positive note, with the Hang Seng Tech Index rising 0.5%.
The impressive gain in Kuaishou's share price stood out among other major tech stocks. While Xiaomi also saw a notable increase of 2.3%, other tech giants like Alibaba and Tencent recorded more modest gains of 0.2% each. In contrast, some e-commerce and EV players faced downward pressure, with JD.com declining 1% and Li Auto falling 1.6%.
The overall market sentiment appeared cautiously optimistic, with the benchmark Hang Seng Index edging up 0.01% at the open. Kuaishou's strong performance suggests investor confidence in the short-video platform's growth prospects, although specific catalysts for the day's surge were not immediately clear.
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