China Indexes Extend 6-Day Rally, Auntea Jenny Soared On Hong Kong Debut

Li Chen
08 May, 2025
Hong Kong

China and Hong Kong indexes advanced for the sixth consecutive session after Beijing announced more measures to support investor and consumer confidence. 

The Hang Seng index increased more than 1%, and the mainland-focused CSI 300 index edged up 0.6% as investors welcomed regulatory measures to stabilize financial markets. 

The Hong Kong Monetary Authority left its rate unrevised at 4.75%, reflecting the U.S. Federal Reserve's move to hold its target rate range between 4.25% and 4.50%. 

The U.S. Federal Reserve provided few insights into the future rate path direction and added that it will review the potential impact of the U.S. tariffs on inflation and the broader economy. 

Investors remained optimistic as benchmark indexes in China and Hong Kong wiped out most of the losses since the chaotic introduction of U.S. tariffs, with the heaviest burden on China. 

The Hang Seng index is down only 2.4% from April 2 after falling by as much as 10% before recovering over the next five weeks.  

The Hong Kong index is still down 5% from the peak on March 19 but up 14% in the year so far as of close on Thursday.

On Wednesday, after a five-day rally, investors booked profit, and mainland China investors sold stocks and exchange-traded funds worth HK $7.87 billion through the Stock Connect program. 

 

China Indexes and Stocks 

The Hang Seng index gained 1.1% to 22,939.28, and the mainland-focused CSI 300 index edged higher by 0.6% to 3,831.63. 

Advanced chip stocks were in focus after the Trump administration said it plans to replace the President Biden-era restrictions on artificial chip exports targeting China. 

Semiconductor Manufacturing International Corp. declined 1.5% to HK $45.40. 

Electric vehicle makers led gainers in Hong Kong  and Shanghai trading. 

BYD jumped 0.2% to HK $385.20, Geely Automobile Holdings gained 4.5% to HK $17.54, and Li Auto advanced 5.5% to HK $107.90. 

Auntea Jenny soared more than 60% on the first day of trading on the Hong Kong Stock Exchange after the bubble team company priced its initial public offering. 

Auntea Jenny traded at HK $172.80 after rising as high as HK $183.30 at the opening on the Hong Kong Stock Exchange. 

The company sold 2.4 million shares and raised HK$272.8 million after the bubble tea company priced its offering at HK$113.12 per share. 

The franchise chain operates 9,176 stores in 300 cities across China and generated annual revenue in 2024 of 3.3 billion yuan, with an average gross order per store of 27 yuan and a net income of 328.9 million yuan.