HSI Opens 439 pts High; Techs & CN Homebuilders Rally

Hong Kong stocks opened significantly higher in the morning. $Hang Seng Index(800000.HK)$ opened 439 points or 2.5% higher at 17,836. $Hang Seng China Enterprises Index(800100.HK)$ opened 152 points or 2.6% higher at 6,116. $Hang Seng TECH Index(800700.HK)$ opened lifting 127 points, or 3.2%, to 4,078.

Technology stocks rose, $BABA-SW(09988.HK)$ opened 3.7% higher at $82.15, while $TENCENT(00700.HK)$ opened 2.9% higher at $316.6. $JD-SW(09618.HK)$ , $KUAISHOU-W(01024.HK)$ and $BILIBILI-W(09626.HK)$ opened higher by 4.3% to 4.9%. $MEITUAN-W(03690.HK)$ and $BIDU-SW(09888.HK)$ are opening 3.1% and 3.5% higher, while $XIAOMI-W(01810.HK)$ is starting 2.3% higher. Handset component stock $SUNNY OPTICAL(02382.HK)$ opened 3.9% higher.

Mainland property stocks opened higher after rumours that the PBOC will provide more than RMB1 trillion to support financing for urban village renovation and security housing projects. $EVERGRANDE(03333.HK)$ and $SUNAC(01918.HK)$ opened 7.5% and 7.2% higher, while $LONGFOR GROUP(00960.HK)$ opened 5.2% higher and $COUNTRY GARDEN(02007.HK)$ opened 4.1% higher.