HSI opens 172 points higer, WuXi AppTec jumps 6.1 percent after removed from US Chinese military list
Hang Seng Index opened 172 points higher on Tuesday, WuXi AppTec (2359) jumped 6.1 percent.
The benchmark Hang Seng Index rose 0.7 percent to 24,621 points, while the tech gauge gained 0.78 percent to 4,072 points.
Major tech stocks showed mixed performance. Alibaba (9988) opened down 0.48 percent as its cloud unit, Alibaba Cloud, raised the AI subscription quota for its Token Plan personal edition, while also cutting the list price and official website discount price of its Pro package. Meanwhile, Tencent (0700) rose 1.1 percent, Meituan (3690) gained 0.6 percent, JD.com (9618) fell 0.7 percent, and Xiaomi (1810) also dropped 0.5 percent.
WuXi AppTec removed from Chinese Military Company list
Biopharmaceutical share WuXi AppTec (2359) advanced 6.1 percent after it announced that the U.S. Department of Defense has removed the company from the Chinese military companies list under Section 1260H.
Peer WuXi Biologics (2269) also rose 3.6 percent, while fellow biotech stock BeOne Medicines AG (6160) climbed more than 7.5 percent as the best-performing blue chip.
In addition, AI-related stock Lenovo (0992) advanced 6 percent, while Hua Hong Grace Semiconductor (1347) and Semiconductor Manufacturing International Corporation
(0981) rose 4.3 percent and 2.6 percent, respectively, benefiting from the US Philadelphia Semiconductor Index rising 6.85 percent on a US tech rebound.
In contrast, oil prices declined, with PetroChina (0857) and CNOOC (0883) falling 1 percent and 1.5 percent, respectively.
On financial shares, HSBC (0005) advanced 2.3 percent, and AIA (1299) rose 1.8 percent.
Hong Kong also welcomed two new initial public offering debuts, with Jiangsu Xinde Semiconductor Technology (7672) surging 20.5 percent, while Suzhou Denglin Technology (9917) dropped 0.9 percent.
