Hong Kong's benchmark $Hang Seng Index(800000.HK)$ opened in the green on Friday, but losing 0.2% in morning trade, even as Wall Street ended on a mixed note overnight ahead of the release of a U.S. jobs report.
Investors in Asia are eyeing the monetary policy statement from the Reserve Bank of Australia and the Indian central bank's interest rate decision.Shares of $XPENG-W(09868.HK)$ and $NIO-SW(09866.HK)$ rose over 3%, while $BABA-SW(09988.HK)$ shed 2.6%.
| Stock | Movement |
|---|---|
| $BABA-SW(09988.HK)$ | -2.6% |
| $JD.com, Inc.-SW(09618.HK)$ | -0.65% |
| $BIDU-SW(09888.HK)$ | 0.96% |
| $TENCENT(00700.HK)$ | -1.86% |
| $Meituan-W(03690.HK)$ | -0.16% |
| $NIO-SW(09866.HK)$ | 2.24% |
| $XPENG-W(09868.HK)$ | 3.89% |
| $Li Auto-W(02015.HK)$ | -0.45% |
Macro News: Chinese Premier Li Keqiang has indicated a higher tolerance for inflation this year as the country looks to stabilize its economy in the wake of global recession concerns and geopolitical tensions, reported the South China Morning Post. Li said China's inflation rate could reach 3.5% this year.
Hong Kong's new secretary for justice has promised to act on "legitimate concerns" regarding the delay in the prosecution of 47 activists arrested under the national security law, reported the South China Morning Post.
Company News: Nio incorporated a company with a registered capital of $100 million that could aid its efforts in phone-making, reported CnEVPost.
Tencent is reportedly looking to hike its stake in French video game maker $UBISOFT ENTERTAINMENT UNSP ADR EACH REPR 1/5 ORD(UBSFY.US)$, the maker of the cult video game "Assasin's Creed."
Global Market: U.S. markets ended mixed on Thursday as traders braced for the release of the July jobs report on Friday. The Nasdaq gained 0.41%. The Dow Jones Industrial Average lost 0.26%, while the S&P 500 ended flat.
On Friday, Australia's ASX 200 gained 0.2%. Japan's Nikkei 225 rose 0.41%, while the South Korean Kospi advanced 0.72%. China's Shanghai Composite index was up 0.19%.