Hong Kong Stocks Open Lower; CATL Jumps 5%; Laopu Gold Sinks 5%; Tencnet Drops 2%; Alibaba Falls 0.9%
Hong Kong stocks opened lower on Friday. The Hang Seng Index fell 0.70%, while the Hang Seng Tech Index dropped 0.75%.
Alibaba saw a decline of 0.94% as the company announced plans to issue HK$12 billion in zero-coupon exchangeable bonds to support cloud infrastructure and international business development. This move is aimed at enhancing its corporate capabilities and expanding its global reach.
In terms of other star stocks, CATL rose 5%; Laopu Gold fell 5%; XPeng and Tencnet fell 2%; Meituan, NetEase, and Xiaomi fell 1%; Baidu fell 0.8%; BYD fell 0.6%; SMIC fell 0.5%; JD.com fell 0.4%.
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