HK Stocks Close Higher. Hang Seng Index up 1.75%; JD.com Surges 7%; Meituan up 5%; Alibaba, NIO Soar over 4%

Market Watcher01-20

On January 20, 2025, the Hong Kong stock market closed broadly higher. The Hang Seng Index rose 1.75%, the Hang Seng China Enterprises Index rose 1.79%, the Hang Seng Tech Index rose 2.59%, while the Hang Seng China-Affiliated Corporations Index fell 0.42%.

In terms of industry sectors, the pharmaceutical outsourcing concept stocks saw a significant increase, with a rise of 5.63%. The biotech sector also performed well, with a rise of 4.66%. The internet medical sector rose by 3.52%, and the popular tech stocks sector increased by 3.10%.

JD-SW surged 7.29%. JPMorgan predicted that JD.com's adjusted net profit for the last quarter increased by 13% year-on-year, and revenue for the first three quarters of this year is expected to grow by 6% to 7%. JD.com's last quarter performance exceeded expectations, driven by the trade-in policy.

BABA-W surged 4.71%. The strong performance of Hong Kong stocks, with the Hang Seng Index rising over 2%, led to a broad increase in tech stocks. Alibaba's stock surged 5.02% during the day, possibly related to the upcoming launch of OpenAI's new generation inference AI model o3, which has reached near-human intelligence levels in some benchmarks.

MEITUAN-W rose 5.21%. The strong performance of Hong Kong stocks, with the Hang Seng Index rising over 2%, led to a broad increase in tech stocks. Meituan's stock surged nearly 7% during the day.

TENCENT rose 2.63%. According to a report by Goldman Sachs, the mainland gaming industry is still considered a defensive investment amid macro and policy uncertainties, especially for leading companies like Tencent and NetEase. Tencent is expected to achieve above-average growth due to its strong product pipeline and overseas market expansion.

WUXI APPTEC rose 7.23%. The biotech sector saw a significant increase, with WuXi AppTec rising over 5%, WuXi Biologics rising over 4%, and BeiGene and Tigermed also following the upward trend.

SUNNY OPTICAL rose 4.14%. The mobile phone industry chain saw a broad increase in the morning, with Sunny Optical rising 4.69%, BYD Electronic rising 2.62%, Cowell rising 2.63%, and Q Technology rising 2.06%.

NIO-SW rose 4.44%. The strong performance of Hong Kong stocks, with the Hang Seng Index rising over 2%, led to a broad increase in tech stocks. NIO's stock surged over 5% in the morning, with Li Auto and XPeng also rising over 2%.

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