HK Stocks Close Higher. China Rareearth up 18%; Bilibili up 10%; Pop Mart, NIO, BYD up Around 4%; CATL, Ping An up Nearly 3%; Alibaba, Xiaomi up over 1%
Hong Kong stock market closed higher on Wednesday. The Hang Seng Index rose by 0.84%, the Hang Seng China Enterprises Index increased by 1.12%, the Hang Seng Tech Index climbed by 1.09%.
U.S. Commerce Secretary Howard Lutnick said on Wednesday that a trade framework and implementation plan agreed with China in London should result in restrictions on rare earths and magents being resolved.
In terms of star stocks, China Rareearth up 18%. Shares have gained 114% this week.
Bilibili up 10% as Zhejiang has introduced measures to boost game exports by supporting companies’ global expansion, platform partnerships, and international branding efforts.
Pop Mart stock, the Labubu maker, soared more than 4% to new high in Hong Kong on Labubu blind box boom. A human-sized Labubu doll fetched a whopping 1.08 million yuan ($150,000) at an auction in Beijing, in a testament to the popularity of the collectible toy flaunted by celebrities.
NIO, BYD up around 4%; CATL, Ping An up nearly 3%; Alibaba, Xiaomi up over 1%.
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