HSI Sags 68 Pts; Yet BABA Rises
At open, $Hang Seng Index(800000.HK$ shed 68 pts or 0.3% to 21,678; $Hang Seng China Enterprises Index(800100.HK$ dipped 16 pts or 0.2% to 7,333; $Hang Seng TECH Index(800700.HK$ sank 13 pts or 0.3% to 4,493.
As to techs, $BABA-SW(09988.HK$ ose 0.5% to $114, as the market rumored that activist investor Ryan Cohen acquired BABA stakes and urged the company to conduct more buybacks. $TENCENT(00700.HK$ gained 0.1% to $370.6. $MEITUAN-W(03690.HK$ lifted 0.1% to $165.8.
$WUXI BIO(02269.HK$ slipped 2.6% after the substantial shareholder axed 1.3% stakes of the company at over 3.9% discount to cash in $3.98 billion.
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