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<H Shrs>HSI Escalates 230 pts at Midday as PV Stocks Soar; XINYI SOLAR Surges 21%
Recommend 96 Positive 187 Negative 85 |
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The HSI hiked 230 points or 1.1% to 20,720 at midday. The HSCEI added 75 points or 1% to 7,435. The HSTECH climbed 83 points or 1.9% to 4,567. Total half-day turnover for the market amounted to $88.954 billion. It is rumored that China will launch a policy to limit energy consumption next month. Photovoltaic-related stocks surged, with COMTEC SOLAR (00712.HK) and SFCE (01165.HK) rocketing 104% and 47%. FLAT GLASS (06865.HK), GCL TECH (03800.HK), XINYI SOLAR (00968.HK) and XINTE ENERGY (01799.HK) spiked 17-25%, while XINYI GLASS (00868.HK) rallied 8.1%. Resource stock MMG (01208.HK) mushroomed 15%, while lithium stocks GANFENGLITHIUM (01772.HK) and TIANQI LITHIUM (09696.HK) shot up over 10%. Automakers elevated. GEELY AUTO (00175.HK) swelled 7.6%, while LI AUTO-W (02015.HK), LEAPMOTOR (09863.HK) and BYD COMPANY (01211.HK) leaped 3.4-4.3%. For Chinese consumers, LI NING (02331.HK), MAOYAN ENT (01896.HK), MENGNIU DAIRY (02319.HK) and JIUMAOJIU (09922.HK) gained 2.7-3.5%, while POP MART (09992.HK) shrank 8.8% as its biggest shareholders sold shares at a discount of up to 5.5% to cash out no more than $1.6 billion. Casino SANDS CHINA LTD (01928.HK) ballooned 4.7% after it disclosed earlier that it may resume dividend in 2025. AAStocks Financial News |
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