HSI opens lower, down 21 points, Lenovo and SMIC rose 8 percent

Hang Seng Index opened lower on Friday by falling 21 points, Lenovo and SMIC (0981) jumped 8 percent.

The benchmark Hang Seng Index fell 21 points, or 0.08 percent, to 25,837 points.

Tech gauge went up by 0.3 percent to 4,818 points.

Among the tech heavyweights, Lenovo surged 8.1 percent as the best-performing blue chip. Baidu (9888) and Alibaba (9988) increased 2.55 percent and 2.06 percent, respectively. CATL (3750) rose 1.45 percent, and Kuaishou (1024) rose less than 1 percent. But Xiaomi (1810), JD.com (9618), and Meituan (3690) fell 5.61 percent, 3.19 percent, and 2.86 percent. Tencent (0700) slipped 0.38 percent.

Chip stocks SMIC (0981) rose 8.06 percent. Knowledge Atlas Technology (2513), or Zhipu AI, and Minimax (0100) rose nearly 15 percent. 

Wharf Real Estate Investment Company (1997) rose 1.29 percent after announcing the sale of Singapore's Wheelock Place to Hongkong Land. HSBC (0005) rose 1.28 percent.

Kingboard Laminates (1888) and Kingboard (0148) increased by around 15 percent after announcing positive profit alerts on Thursday. Kingboard Laminates expects its net profit for the first half of the year ending June 30 to exceed HK$2.8 billion, representing a significant year on year increase of over 200 percent. Its parent company, Kingboard, expects its first-half net profit to exceed HK$2.7 billion, up approximately 4 percent year on year.

Zhongji Innolight (3308) rose 15 percent after its gloomy debut on Thursday.

New Oriental Education & Techlgy (9901) dropped 7.97 percent, becoming the worst-performing blue chip.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓