Hong Kong stocks started 2025 with a fall of over 2 percent

Hong Kong stocks opened 2025 on a weak note, with the Hang Seng Index falling 436 points or 2.18 percent to close at 19,623, on a main board turnover of HK$164.78 billion. 

Tech stocks retreated, with Tencent (0700) down 0.24 percent, Alibaba (9988) losing 1.33 percent, Meituan (3690) slipping 0.73 percent, Xiaomi (1810) declining 1.45 percent, JD.com (9618) dropping 2.57 percent, and Kuaishou Technology (1024) falling 1.93 percent.

The China Enterprise Index and the Tech Index dropped 2.73 percent and 2.47 percent, respectively.

Gold mining stocks outperformed the market. Zhaojin Mining Industry (1818) rose 4.2 percent, Shandong Gold Mining (1787) climbed 7.01 percent, and Zijin Mining (2899) edged up 0.28 percent.

Xinyi Glass (0868) and Xinyi Solar (0968) both issued profit warnings, with their annual net profits for the year ending December declining by up to 40 percent and 80 percent, respectively. Their stocks closed down 5.07 percent and 6.05 percent.

Kin Pang (1722) plunged 85.15 percent to HK$0.072, after skyrocketing 72 times from HK$0.059 to HK$0.485 on its last trading day, December 31.

(Melody Chen)