HSI Climbs 79 Pts, BABA intended to exercise the exchange rights to obtain 248 million A shares
At open, $Hang Seng Index(800000.HK$ added 79 pts or 0.4% to 21,818; $Hang Seng China Enterprises Index(800100.HK$ gained 32 pts or 0.4% to 7,423; $Hang Seng TECH Index(800700.HK$ lifted 22 pts or 0.5% to 4,577.
$RS MACALLINE(01528.HK$ surged 14.8% to $3.88, whereas $BABA-SW(09988.HK$ jumped 1.3% to $114.2, as the former amended the exchange price of convertible bonds and the latter intended to exercise the exchange rights to obtain 248 million A shares.
$HSBC HOLDINGS(00005.HK$ fared well echoing banks on external markets. It elevated 1.3% to $56.2. $CM BANK(03968.HK$ rose 1.7% to $48.7 after expecting 2022's net profit to increase 15%.
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Lovely_Moo : What will happen to Baba's share price when the convertible bond is fully exchanged to shares? Will it rise or fall?
Btan : Better to wait and see