To The Moon

KEY POINTS

• Hang Seng fell 1% in opening trade.
• EV shares traded mixed with Xpeng trading 2% lower, while Nio jumped 2%.

Hong Kong shares opened in the red on Monday morning, taking cues from Friday’s Wall Street decline where major indices fell 1.5%. The benchmark Hang Seng fell 1% in opening trade.

EV shares traded mixed with shares of Xpeng trading 2.5% lower while Nio stock jumped 1.63%. Shares of Alibaba fell over 0.8% in morning trade while Meituan, JD.com lost over 2%.

Company News: Nio, XPeng and Li Auto released their September deliveries on Saturday, with the numbers indicating a flat performance in line with that of recent months.

China Petroleum and Chemical Corporation is intending to de-list its American Depository Shares trading on the London Stock Exchange, reported Reuters.

Top Gainers and Losers: Country Garden Services Holdings Company Limited and Longfor Group Holdings Limited are the top gainers among Hang Seng constituents, having gained over 10% and 7% respectively. New World Development Company Limited and ENN Energy Holdings Limited are the top losers, having lost over 4% and 3% respectively.

Global News: U.S. futures traded mixed on Monday morning Asia session. The Dow Jones futures were up 0.02%, while the Nasdaq futures lost 0.52%. The S&P 500 futures were down 0.19%.

Elsewhere in Asia, Australia’s ASX 200 was down 0.07%. Japan’s Nikkei 225 gained 0.64%. The Chinese and South Korean markets were closed on Monday.