Four Companies List in China In Busiest Day In Six Months In Hong Kong

Li Chen
30 Dec, 2024
Hong Kong

Stock market indexes in China and Hong Kong diverged in thin trading as investors awaited the release of manufacturing industry data. 

The Hang Seng index declined 0.6%, and the CSI 300 index rose 0.2% amid optimism about the fiscal stimulus implementation plans and possible relaxing of bank reserve requirement ratios.

Stock market indexes in Hong Kong were under pressure following a selloff in tech stocks in Friday's trading in New York. 

Ahead of the last trading day, benchmark indexes in Hong Kong and Shanghai advanced 18% in 2024, overcoming the lackluster performance after the announcements of stimulus measures by policymakers in Beijing and the People's Bank of China. 

 

China Stock Movers 

The Hang Seng index decreased 0.6% to 19,976.48, and the mainland-focused CSI 300 index advanced 0.2% to 3,991.48. 

Sands China decreased 5.3% to HK $20.60, Haidilao International Holding declined 5.9% to HK $15.42, and Trip.com Group fell 4.5%. 

On the upside, SMIC gained 6% to HK $32.50, and Wuxi AppTec increased 3% to HK $55.50. 

Three new companies began trading for the first time in Hong Kong, its busiest day for new listings since July 10. 

InnoScience Technology Holding jumped 2% to HK $55.50 after the Gallium Nitride microchip company completed its initial public listing at HK $30.86 per share.

The company raised HK$1.4 billion, or $180 million, through the sale of 45.4 million shares. 

HealthyWay jumped 30% to HK$10.38 after the digital health and medical services platform listed its stock in Hong Kong. 

The Baidu-backed company raised HK $195 million after it priced its initial offering at HK $7.80 per share. 

Xunfei Healthcare Technology jumped 7% to HK $88.40 after the medical information platform operator completed its initial public offering and raised HK $1.4 billion, or $180.4 million. 

Air China Cargo soared more than four-fold to 10.13 yuan on the first day of trading in Shenzhen after the company sold 1.3 billion shares and raised 3.5 billion yuan.