For the first time since February 2021, Alibaba HK is above the 200-Day Moving Average
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| Alibaba Group |
This week, Asian equities were uneven as certain markets, like South Korea, recovered while a few technology stocks, namely Alibaba, kept rising.
In spite of the terrible assassination of former Japanese Prime Minister Abe, Asian stocks concluded the week on a high note. Markets varied by nation during the week, although several of the weakest performers recovered, like South Korea, following the recent rise of many US tech companies.
The relatively resilient Alibaba HK (9988 HK), which rose +3.68 percent overnight on a mostly up day for internet companies, led Hong Kong to a little gain, with the exception of Meituan (3690 HK), which sank -1.08 percent. For the first time since February 22, 2021, Alibaba's Hong Kong-listed shares closed above their 200-day moving average.
Autohomes increased by 4.28 percent as a delayed reaction to the strong June auto sales.
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