Hong Kong Stocks Pare Losses; Hang Seng Tech Index Turns Positive; Li Auto Surges 13%
Hong Kong stocks trimmed their losses. The Hang Seng Tech Index turned positive.
Investors began to digest the impact of Trump's measures to restrict U.S. investment in China. A decline in Chinese technology stocks after President Donald Trump moved to squeeze US investments into the Asian nation presents a buying opportunity, according to some traders.
In terms of individual stocks, Li Auto rose 13%; Horizon Robotics rose 9%; XPeng rose 5%; SMIC rose 4%; Xiaomi and NIO rose 3%.
While Tencent, Kuaishu, and Alibaba fell 2%; JD.com and Meituan fell 3%; Bilibili fell 5%; Trip.com fell 7%; Tencent Music fell 8%.
Li Auto announced on its social media platforms today that its first all-electric SUV is the Li i8.
Tencent Music Entertainment Group and Horizon Robotics have been introduced to the Hang Seng Tech Index, enhancing its focus on mainland Chinese tech innovators.
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