HSI Opens 126 pts Lower as NTES Hikes Post-results

$Hang Seng Index(800000.HK)$ opened 126 points or 0.7% lower at 18,742. $Hang Seng China Enterprises Index(800100.HK)$ opened 41 points or 0.6% lower at 6,660. $Hang Seng TECH Index(800700.HK)$ opened 31 points or 0.8% lower at 3,865.

$XIAOMI-W(01810.HK)$ 's 1Q24 non-IFRS net profit rose 101%, far beating estimations. XIAOMI-W raised its full-year auto delivery target to 120,000 units, but its share price slid 0.1%. $NTES-S(09999.HK)$ 's 1Q24 non-GAAP net profit grew 12%, in line with expectations, and its share price leaped 3.3%. $BILIBILI-W(09626.HK)$ 's 1Q24 adjusted net loss narrowed to nearly RMB440 million. BILIBILI-W's ADR plummeted over 12%, and opened 0.8% lower in morning session.

$BABA-SW(09988.HK)$ intended to issue convertible senior notes to raise up to US$5 billion. BABA-SW cratered over 6% in yesterday's afternoon session, and slid 0.3% to $78.45 in morning session.

For other techs, $TENCENT(00700.HK)$ , $MEITUAN-W(03690.HK)$ and $JD-SW(09618.HK)$ lost 0.9-1.2%, while $BIDU-SW(09888.HK)$ ebbed 0.6%. $KUAISHOU-W(01024.HK)$ climbed 0.1%.