Weekly Tech Stock Recap: Hong Kong tech giants all rose! Alphabet-C and Apple declined.

LB Select
2024.02.19 03:57

Last week, during the Chinese New Year holiday, the Hong Kong stock market led the global market, while the market value of US tech giants underwent a reshuffle.

Specifically, internet giants in the Hong Kong stock market saw across-the-board gains, with JD.com and Meituan leading the way, both rising by 11% for the week. Xiaomi rose by 8%, Kuaishou-W by 6%, Alibaba-SWR and Baidu-SW by over 5%, NetEase by 4.5%, and Tencent by nearly 2%.

In the US stock market, the seven tech giants experienced mixed performance, with only Tesla, Meta, and NVIDIA seeing gains. Alphabet-C dropped by nearly 6%, while Microsoft and Apple fell by over 3%, and Amazon dropped by nearly 3%.

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