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<H Shrs>HSI Closes Down 371 pts as BIDU-SW Craters 8%+; Techs, CN Insurers, Brokers Feeble
Recommend 35 Positive 68 Negative 47 |
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The HSI slipped 371 points or 1.9% to close at 19,229. The HSCEI faded 147 points or 2.1% to close at 6,887. The HSTECH lost 111 points or 2.6% to close at 4,246. The total market turnover for the day amounted to $157.983 billion. BIDU-SW (09888.HK) slumped 8.6% as its 3Q24 non-GAAP net profit shed 19%, and JPMorgan said that its core profit margin missed market consensus. PDD (PDD.US)'s quarterly results missed expectations, and its share price tumbled over 10%, while e-commerce-related stocks BABA-W (09988.HK) and KUAISHOU-W (01024.HK) cascaded 4.4%. JD-SW (09618.HK) ebbed 0.3%. The market is looking forward to the sale of Huawei's Mate70 mobile phone. Handset parts stock AAC TECH (02018.HK) swelled 7.9%, while Q TECH (01478.HK) and BYD ELECTRONIC (00285.HK) leaped 4.3% and 4%. SUNNY OPTICAL (02382.HK) jumped 2.2%, while handset maker XIAOMI-W (01810.HK) climbed 1.4%. For other techs, TENCENT (00700.HK) receded 1.7%, while BILIBILI-W (09626.HK) and MEITUAN-W (03690.HK) waned over 3%. Semiconductor stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) stumbled 6.7% and 7.5%. In addition, XD INC (02400.HK) elevated 6.4%, while JD HEALTH (06618.HK) and ALI HEALTH (00241.HK) eroded 4.5% and 5.6%. CHINASOFT INT'L (00354.HK), WEIMOB INC (02013.HK), KINGDEE INT'L (00268.HK), HORIZONROBOT-W (09660.HK) and SENSETIME-W (00020.HK) shrank 6.2-7.7%. For financials, HSBC HOLDINGS (00005.HK) and AIA (01299.HK) slid 0.1% and 0.7%, while HKEX (00388.HK) declined 4.2%. The SHCI fell over 3%, while Chinese insurers PICC GROUP (01339.HK), CHINA TAIPING (00966.HK) and CPIC (02601.HK) lost more than 4%. ZA ONLINE (06060.HK) dipped 5.8%, while CHINA LIFE (02628.HK) and NCI (01336.HK) descended over 7%. Brokers HTSC (06886.HK) sank 4%, while CITIC SEC (06030.HK), CICC (03908.HK) and CSC (06066.HK) tumbled more than 5%. CGS (06881.HK) dived 6.2%. AAStocks Financial News |
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