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<H Shrs>HSI Lowers 143 pts at Open as Techs Slump, But NIO & XPENG Rise
Recommend 38 Positive 76 Negative 41 |
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Hong Kong stocks opened down in the morning. HSI opened lower by 143 points or 0.8% at 17,946, HSCEI opened lower by 50 points or 0.8% at 6,426, and HSTECH opened lower by 23 points or 0.6% at 3,666. Amazon (AMZN.US) will launch a Temu-like store that ships directly from China. E-commerce stock BABA-SW (09988.HK) opened falling 1.2% at $72. For other tech stocks, TENCENT (00700.HK) opened dropping 0.6% at $379.6, while MEITUAN-W (03690.HK), XIAOMI-W (01810.HK), JD-SW (09618.HK), and BIDU-SW (09888.HK) opened declining 0.9%-1.6%. BILIBILI-W (09626.HK) slumped 3.2% at open. Memory chip stock Micron (MU.US) slipped during after-hours as its revenue forecast failed to beat expectations. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) opened lowering 1.4% and 1.3%, while PC maker LENOVO GROUP (00992.HK) opened dipping 1.4%. Tesla (TSLA.US) hiked over 4% last night. EV stocks NIO-SW (09866.HK) and XPENG-W (09868.HK) escalated 4% and 2.7% at open, while BYD COMPANY (01211.HK) shed 0.8% to open at $235.6. GEELY AUTO (00175.HK) also opened 1.1% lower. CHINA LIFE (02628.HK) fell 0.7% at open along with the market after it passed an interim profit distribution proposal, proposing a cash dividend of no more than 30% of net profit. As for other financial stocks, HSBC HOLDINGS (00005.HK) declined 0.7% to open at $67.8, HKEX (00388.HK) dropped 0.9% to open at $253.6, as AIA (01299.HK) retreated 1% to open at $53.9. BOSIDENG (03998.HK)'s full-year net profit grew 44%, with a final dividend of HK20 cents declared. Its shares opened lifting 3.7% at $4.49. AAStocks Financial News |
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