10th January 2025 - (Hong Kong) The Hang Seng Index opened 87 points, or 0.45%, higher at 19,328 points. The Hang Seng China Enterprises Index rose by 32 points, or 0.46%, to reach 7,011 points, while the Technology Index increased by 23 points, or 0.54%, to 4,335 points.
Technology stocks showed positive performance, with Tencent rising by 0.1%, Alibaba up by 0.3%, Meituan gaining 1.1%, and JD.com increasing by 0.4%. Xiaomi Group opened flat, while Kuaishou rose by 0.6%.
In the financial sector, HSBC Holdings climbed by 1.1%, whereas AIA Group fell by 1%. China Ping An saw a slight decline of 0.1%, while Hong Kong Exchanges and Clearing rose by 0.5%.
In other notable developments, the recently listed Bloks Group (0325) made a strong debut, opening at HK$109.60--an increase of 81.6% from its initial public offering (IPO) price of HK$60.35. This significant jump translates to a paper profit of HK$14,775 for investors buying one lot.
Bloks Group's IPO was met with exceptional demand, receiving 128,600 applications and achieving an oversubscription of nearly 6,000 times. The international offering also saw strong interest, with a 37.6 times oversubscription.
Established in 2014, Bloks focuses on the design, development, and sale of building block toys, boasting original IPs such as "Transforming Bloks" and "Infinite Heroes." The company has secured non-exclusive licensing for over 50 globally recognised IPs, including Ultraman, Transformers, Marvel Heroes, and Naruto. According to Frost & Sullivan, Bloks is now the largest building block toy company in China and the third largest globally, with an impressive growth rate.
Looking ahead, Citic Securities has forecasted continued growth for Bloks, attributing its success to a focus on the rapidly expanding building block toy market. The company aims to broaden its product range, expand its IP portfolio, and pursue globalisation, thereby driving sustained growth.

Sumber : dimsumdaily.hk