Hong Kong Stocks Edge Higher on Friday; Xiaomi Plummets 7%

MT Newswires Live
Jul 31

Hong Kong stocks ended slightly higher on Friday, tracking broader Asian gains as investors weighed strength in global technology shares against ongoing uncertainty over interest rates.

The Hang Seng Index rose 25.55 points, or 0.1%, to close at 25,884.43, while the Hang Seng China Enterprises Index fell 32.56 points, or 0.4%, to 8,612.15.

Strong earnings from major U.S. technology companies lifted chipmakers and helped ease concerns over artificial intelligence-related spending. Meanwhile, oil prices declined as supply flows through key shipping routes improved despite limited progress in U.S.-Iran talks.

Among individual stocks, Xiaomi (HKG:1810) dropped nearly 7% after unveiling its SkyNomad extended-range SUV series as it expands further into China's electric vehicle market.

CANbridge Pharmaceuticals (HKG:1228) gained 1% after starting registration procedures and commercial preparations to launch its Gaucher disease therapy, Gaurunning, in a North African market.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10