Hong Kong's Stock Market Exhibited a Cautious Tone on the Expiry of Futures Contracts

The Hang Seng Index opened down by 44 points, or 0.22%, at 19,558. The Hang Seng China Enterprises Index fell by 11 points, or 0.15%, settling at 7,016

Hong Kong stocks began the session on a cautious note on Monday (28th) as futures contracts expired. The Hang Seng Index opened down by 44 points, or 0.22%, at 19,558. The Hang Seng China Enterprises Index fell by 11 points, or 0.15%, to 7,016, while the Tech Index edged up by 5 points, or 0.12%, to 4,379.

Technology stocks were mixed. Tencent declined by 0.3%, and Alibaba fell by 0.8%. However, Meituan rose by 0.4%, JD.com gained 1.4%, and Kuaishou saw a 1.1% increase.

Financial stocks also presented a mixed picture. HSBC remained flat, while AIA Insurance dropped by 1.7%. On the other hand, China Ping An and the Hong Kong Stock Exchange each edged up by 0.1%.

In the automotive sector, performance was varied. BYD saw a slight decline of 0.2%, while Geely Automobile surged by 3.5%. Xpeng Motors and Li Auto rose by 1.2% and 2.3%, respectively, while NIO’s shares remained unchanged.

Bitcoin gained momentum on Monday, which had a positive influence on related stocks and exchange-traded funds (ETFs). Boyaa Interactive surged by 4.7%, Meitu rose by 1.7%, and CSOP Bitcoin Futures ETF increased by 1.6%, while ChinaAMC Bitcoin ETF saw a rise of 3.4%.