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<HK Wrap-up>HSI Crashes 369 pts as Autos Trounced; JD Hits Fresh Trough since HK Listing
Recommend 114 Positive 136 Negative 133 |
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Hong Kong equities declined notably throughout today's session. The HSI plummeted 369 pts or 1.9% to close at 18,746; the HSCEI tumbled 144 pts or 2.2% to close at 6,333; the HSTECH eroded 84 pts or nearly 2.3% to close at 3,691. The full-day turnover aggregated $115.547 billion. BABA-SW (09988.HK) and TENCENT (00700.HK) cascaded 3% each. MEITUAN-W (03690.HK), JD-SW (09618.HK), KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) dived over 3% each. JD-SW, in particular, once plummeted to as low as $128.4, a fresh trough since the listing of its shares in Hong Kong. Automakers were overall depressed. XPENG-W (09868.HK) cratered 9.3% after reporting a 17.9% YoY contraction in its 1Q23 auto delivery volume. NIO-SW (09866.HK) edged down 9.3%. GREATWALL MOTOR (02333.HK) and BYD COMPANY (01211.HK) plunged 7.3% and 5.4%, respectively. Consumer stocks and Chinese staples also retreated. CHINA FEIHE (06186.HK), VINDA INT'L (03331.HK), LI NING (02331.HK) and MAOYAN ENT (01896.HK) fell 3.4-4.3%, while TOPSPORTS (06110.HK) slipped 5.4%. OOIL (00316.HK) sagged 6.8% and thereby logging the steepest decline among blue-chip stocks. AAStocks Financial News |
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