Asian stock markets on the rise
Asian stock markets are showing clear signs of growth, with Hong Kong standing out for a significant increase. The Hang Seng Index rose 2.3%, closing at 19,603.13 points. This positive trend was mainly fueled by technology stocks, which saw a significant rise.
Even the continental stock exchanges, such as those in Shanghai and Shenzhen, closed positively, with +1.53% and +2.07% respectively.
Performance of technology stocks
In the technology stock landscape, companies like Alibaba and JD have recorded remarkable performances. Alibaba saw an increase of 2.0%, while JD had an impressive +5.0%. Meituan, waiting for the third quarter results scheduled for Friday, grew by 7.2%. However, not all stocks have benefited from this positive trend.
Nio fell by 1.7% and Easou Technology Holdings fell by 3.0%.
Business strategies and withdrawals from the Chinese market
In a context of growth, significant news is also emerging regarding business strategies. On, Volkswagen announced the sale of its operations in the Chinese region of Xinjiang, an area at the center of allegations of human rights violations. The decision, motivated by economic reasons and strategic realignment, involves a plant in Urumqi and a test track in Turpan, sold to a Chinese company. This move highlights the challenges Western companies face in maintaining operations in regions with human rights concerns.