Technology and internet giants Alibaba, Baidu and Bilibili – all of which also trade in New York – rose more than 8% on Friday, making them among the top performers during a shortened trading session in Hong Kong.
However, the year as a whole was not good for Chinese technology. Alibaba’s Hong Kong-listed shares lost nearly half their value in 2021. Tencent – which closed 3% on Friday – is down 19%. Baidu, which had a secondary listing in Hong Kong earlier this year, has lost 43% since that debut.