U.S.-listed Kingsoft Cloud shines in Hong Kong debut, other newcomers fall

Cryofocus Medtech (Shanghai) Co

30/12/2022 04:58

** Shares of Chinese cloud services group Kingsoft Cloud
Holdings Ltd  3896.HK  rise in Hong Kong debut on Friday,
tracking a 12.4% jump in U.S. shares  KC.O  and tapping strength
in the broader market and technoloy stocks 
    ** Kingsoft Cloud, which listed by way of introduction
without raising any proceed, trades as high as HK$2.15 per share
in Hong Kong debut, up 8.6% from a close of HK$1.98 equivalent
in the U.S. shares on Thursday
    ** Kingsoft Corp  3888.HK  holds 37.4% of Kingsoft Cloud and
Xiaomi  1810.HK  owns 11.8%  
    ** Stock of Kingsoft Corp surges 3.9% and Xiaomi up 1.7%
    ** Also by way of introduction, Haidilao's  6862.HK 
internatonal business spinoff Super Hi International  9658.HK 
trades as high as HK$14.50 per share after it opened at HK$7 on
debut  
    ** Chinese hot pot chain Haidilao climbs as much as 3.6% 
    ** However, stocks of other newcomers including cryotherapy
devices developer Cryofocus Medtech  6922.HK , biologics
manufacturer Shandong Boan Biotechnology  6955.HK  and dairy
farm operator AustAsia  2425.HK  all fall below their issue
price on debut 
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.4%, the Hang Seng Tech Index  .HSTECH  rises 1.3% and the Hang
Seng Index  .HSI  climbs 0.8%
 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))