HSI Sags 88 Pts; HSBC & BABA Down

The Nasdaq leaped nearly 3% and the DJIA swelled 456 pts, or 1.2%, overnight, as $NVIDIA(NVDA.US)$ shot up 16% after its quarterly results. Standing in contrast, Hong Kong stocks opened lower this morning after three-day uptrend.

$Hang Seng Index(800000.HK)$ opened 88 pts or 0.5% lower at 16,654. $Hang Seng China Enterprises Index(800100.HK)$ opened 30 pts or 0.5% lower at 5,728. $Hang Seng TECH Index(800700.HK)$ opened 23 pts or 0.7% lower at 3,386.

For techs, $BABA-SW(09988.HK)$ faded 1% at $74.1. $TENCENT(00700.HK)$ sank 0.5% at $290. $MEITUAN-W(03690.HK)$ and $NTES-S(09999.HK)$ added 0.3% and 0.1%. $BIDU-SW(09888.HK)$ lifted 0.9%. $JD-SW(09618.HK)$ and $KUAISHOU-W(01024.HK)$ lost 2.3% and 1.3% each.

$XIAOMI-W(01810.HK)$ President Lu Weibing said Xiaomi's handset shipments ranked among the world's top three for the 14th quarter. XIAOMI fell 1% at $13.26, along with the broader market. $LENOVO GROUP(00992.HK)$ , reporting a 23% drop in quarterly net profit yesterday afternoon (22nd), dipped 0.3% at $8.81.

As for financials, $HSBC HOLDINGS(00005.HK)$ shrank 1.1% at $58.95. $HKEX(00388.HK)$ hiked 0.2%. $AIA(01299.HK)$ decreased 0.6%. $CHINA OVERSEAS(00688.HK)$ dived 1.9%.