HK Stocks Close Lower. NetEase Soars 13%; Mixue Group up 6%; BYD up 3%; Xiaomi up 1.7%; Alibaba Down 4%; JD.com Down 3%; Tencent Down 1.5%
Hong Kong stock market closed lower on Friday with the Hang Seng Index (HSI) down 0.46%, the Hang Seng China Enterprises Index (HSCEI) down 0.49%, the Hang Seng Tech Index (HSTECH) down 0.31%.
Alibaba fell more than 4% after its fourth-quarter fiscal 2025 earnings report showed revenue and net profit below market expectations. In contrast, NetEase rose more than 13% due to strong first-quarter performance, with game revenue exceeding expectations and Citigroup raising its target price to $156.
Mixue Group rose 6.26%; BYD rose 3.28%; NIO up 2.4%; Li Auto, Xiaomi up over 1%; Tencent fell 1.45%; JD.com, Meituan fell nearly 3%.
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