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<H Shrs>HSI Finishes Lower by 307 Pts; TRIP.COM-S Dives ~12%; LI AUTO-W Swells 12%+
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US President Donald Trump reportedly signed the "America First Investment Policy", constraining US funds from investing in China's high-tech industries. The Nasdaq Golden Dragon China Index sagged more than 5% overnight. The HSI opened sharply lower by 625 points or 2.7%. The decline then narrowed to 93 points at one point to bring the index to 23,248. The HSI full-day plunge was 307 points or 1.3%, closing the index at 23,034. The HSCEI fell 119 points or 1.4% to 8,499. The HSTECH sank 90 points or 1.6% to 5,698. The total market turnover for the day was $329.552 billion. BABA-W (09988.HK) slid nearly 7.9% in the early trading session, but then narrowed its slump to close the index at $130.6, down 3.8% for the day. The company plans to invest RMB300 billion in AI over three years. TENCENT (00700.HK) and KUAISHOU-W (01024.HK) dived 2.5% and 3.3% respectively. NTES-S (09999.HK) dipped 1.8%. JD-SW (09618.HK) bears all costs of five social insurances and one housing fund for food delivery riders, and its share price plummeted 3.8%. BIDU-SW (09888.HK) and MEITUAN-W (03690.HK) cratered 3.9% and 4.7% respectively. BILIBILI-W (09626.HK) stumbled 7.6%. XIAOMI-W (01810.HK) surged 3.1%. Automakers ascended. The pictures of LI AUTO-W (02015.HK)'s first battery electric vehicles (BEV) SUV i8 were exposed, and its share price shot up 12.5%. XPENG-W (09868.HK) and GEELY AUTO (00175.HK) spiked 4.4% and 3.1% respectively. Smart driving concept stocks escalated, with COWELL (01415.HK) up 4.5% and HORIZONROBOT-W (09660.HK) up 9%. In terms of pharmaceuticals, CANSINOBIO (06185.HK)’s DTcP-Hib-MCV4 combination vaccine was approved for clinical trials in China, and its share price rallied 8.9%. TRIP.COM-S (09961.HK) guided for revenue growth of 14-15% in 2025, which brokers said was worse than the market expectation of 15.7%, and its share price slipped 11.9%. Its peer TONGCHENGTRAVEL (00780.HK) collapsed 8.9%. AAStocks Financial News |
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