HK Stocks Close Lower. NetEase Soars 13%; Mixue Group up 6%; BYD up 3%; Xiaomi up 1.7%; Alibaba Down 4%; JD.com Down 3%; Tencent Down 1.5%
Hong Kong stock market closed lower on Friday with the Hang Seng Index down 0.46%, the Hang Seng China Enterprises Index down 0.49%, the Hang Seng Tech Index down 0.31%.Alibaba fell more than 4% after its fourth-quarter fiscal 2025 earnings report showed revenue and net profit below market expectations. In contrast, NetEase rose more than 13% due to strong first-quarter performance, with game revenue exceeding expectations and Citigroup raising its target price to $156. Mixue Group rose 6.26%
