HSI rose 50 points at market close, New Oriental gains 19pc, tech stocks sputter

Hang Seng Index rose 50 points to above 25,800 at market close on Thursday, New Oriental Education & Techlgy (9901) surged nearly 19 percent.

The benchmark Hang Seng Index rose 50 points, or 0.2 percent, to 25,858 points, delivering a market turnover of HK$304 billion.

Tech gauge fell 1.25 percent to 4,803 points.

New Oriental Education & Techlgy increased 18.84 percent, extending its gains from early trading as the best-performing blue chip.

It was followed by JD Logistics (2618), which rose 3.62 percent. Laopu Gold (6181) inched up 2.57 percent.

Oil majors CNOOC (0883) and PetroChina (0857) rose 2.89 percent and 2.22 percent, respectively.

AIA (1299) and Bank of China (3988) gained, rising 1.92 percent and 1.09 percent.

Mixed performance in the tech heavyweights. Tencent (0700) rose 1.16 percent, JD.com (9618) and NetEase (9999) increased 1.98 percent and 1.67 percent, respectively. Meituan (3690) and Kuaishou (1024) gained less than 1 percent. Meanwhile, Lenovo (0992), Xiaomi (1810), and Alibaba (9988) dropped 5.4 percent, 2.63 percent, and 1.58 percent. SMIC (0981) plunged 7.74 percent as the worst-performing blue chip.

Other major tech stocks broadly lost. CSOP SK Hynix Daily (2x) Leveraged Product (7709) plummeted 22.45 percent. Chinese lithography and integrated circuit manufacturer Circuit Fabology Microelectronics Equipment (9630) fell 17.39 percent, and Knowledge Atlas Technology (2513), or Zhipu AI, dropped 16.55 percent

In the mainland, the Shanghai Stock Exchange Composite Index slipped 23 points, or 0.62 percent, to 3,804 points. The Shenzhen Stock Exchange Composite Index fell 2.73 percent to 13,285 points

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