Hong Kong Stocks Close Higher Despite Wall Street Dips; JD.com and Meituan Tumble on Food Delivery Competition
Hong Kong stocks closed higher on Tuesday despite Wall Street's retreat on Monday. The Hang Seng Index gained 0.8%, while the Hang Seng Tech Index rose 0.2%.
Gold shares jumped on Tuesday as spot gold smashed all-time high, topping $3,500 amid trump tariff uncertainty. Wanguo Gold rose 16%; Chifeng Gold rose 9%; SD Gold rose 7%; Tongguan Gold rose 5%; Lingbao Gold and Laopu Gold rose 3%; China Gold International Resources rose 2%.
EV stocks also jumped on Tuesday. Xiaomi rose 6%; Leapmotor rose 4%; Li Auto, NIO, and BYD rose 3%.
Among other star stocks, Lenovo rose 2%; Alibaba and SMIC rose 1%.
JD.com shares sank 6% in Hong Kong while Meituan dropped 5% as food delivery competition intensified.
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