Hong Kong stocks opened higher on Thursday, Kuaishou drops 4.76pc

Hong Kong stocks edged up at the market open on Thursday, led by gains in most pharmaceutical and mining companies. 

The benchmark Hang Seng Index edged up 284 points, or 1.11 percent, to 25,779 points. 

Tech gauge increased 1.69 percent to 4,762 points. 

Tech majors Alibaba (9988) and Tencent rose 1.93 percent and 1.65 percent, respectively. Meituan (3690) rose 2 percent, and Lenovo (0992) went up by 1.73 percent. Xiaomi (1810) gained 1.24 percent. 

Meanwhile, Kuaishou (1024) declined 4.76 percent as the worst-performing blue chip after announcing a year on year net profit loss of 32 percent to 6.06 billion yuan (HK$7.05 billion) yesterday, due to rising artificial intelligence investment. 

Pharmaceutical companies gained, with CSPC Pharmaceutical (1093) the best-performing blue chip, rising 9.38 percent. WuXi Biologics (2269) rose 7.52 percent, and Sino Pharmaceutical (1177) gained 6.05 percent. 

Mining companies CMOC(3993) and Zijing Mining (2899) rose 4.97 percent and 4.41 percent, respectively. 

Laopu Gold (6181) rose 6.83 percent, ending previous losses.
 

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