Hong Kong shares open higher, Alibaba leads blue chips with 3.1 per cent gain
Hong Kong stocks opened higher on Monday, with the Hang Seng Index rising 0.92 per cent. Alibaba jumped 3.1 per cent, leading blue-chip gains, while pharmaceutical stocks also outperformed the market.
Hong Kong stocks opened higher on Monday, led by technology and pharmaceutical companies. The benchmark Hang Seng Index rose 223 points, or 0.92 per cent, to 24,434 points, while the tech gauge increased 1.03 per cent to 4,241 points, according to The Standard.
Alibaba (9988) jumped 3.1 per cent, marking the best performance among blue chips at the open. Tencent (0700) inched up 0.8 per cent following its latest note issuance plan. Meituan (3690) advanced 1.1 per cent, while Xiaomi (1810) retreated 0.6 per cent. JD.com (9618) and Baidu (9888) both went up 0.8 per cent.
Pharmaceutical stocks also outperformed the broader market. CSPC Pharmaceutical (1093) rose 2.9 per cent, and Wuxi Apptec (2359) climbed 2.5 per cent.