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<H Shrs>HSI Loses 158 pts at Close; NONGFU SPRING Crashes 7%+, as ASMPT Craters 23%
Recommend 281 Positive 135 Negative 392 |
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HSI waned 158 points or 0.9% to close at 17,311. HSCEI descended 52 points or 0.9% to close at 6,142 points. HSTECH reduced 53 points or 1.5% to close at 3,491. Total market turnover for the day was $86.899 billion. Tesla and General Motors shares retreated after results, and Hong Kong-listed auto stocks followed. BYD COMPANY (01211.HK) dropped 2.3% to $233. LI AUTO-W (02015.HK), LEAPMOTOR (09863.HK), NIO-SW (09866.HK) and DONGFENG GROUP (00489.HK) fell 3% to 4.4%, while XPENG-W (09868.HK) and GWMOTOR (02333.HK) plummeted more than 5%. A number of consumer stocks weakened, with NONGFU SPRING (09633.HK) crashing 7.1%, becoming the biggest blue-chip loser. CHINA RES BEER (00291.HK), BUD APAC (01876.HK) and BLUE MOON GROUP (06993.HK) faltered 5.1% to 6.3%, while U-PRESID CHINA (00220.HK), TINGYI (00322.HK), TSINGTAO BREW (00168.HK) and MENGNIU DAIRY (02319.HK) dived 3.4% to 4.6%. Jewellery retailer CHOW TAI FOOK (01929.HK) plunged 6.6% after retail value descended 20% YoY in 1FQ. PRADA (01913.HK) slumped 5.5% after French luxury brand group LVMH reported poor quarterly results. Chip equipment stock ASMPT (00522.HK) crashed 23.1% after its 3Q sales guidance fell short of Morgan Stanley's worst-case scenario forecast. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) decreased 1.7% and 3%. For other tech stocks, BABA-SW (09988.HK) incremented 0.1% to $74.2, TENCENT (00700.HK) dipped 0.8% to $363.2, and MEITUAN-W (03690.HK) decreased 4.1% to $113.3. XIAOMI-W (01810.HK), JD-SW (09618.HK), KUAISHOU-W (01024.HK), BILIBILI-W (09626.HK) and LENOVO GROUP (00992.HK) fell 1.9% to 2.5%. BIDU-SW (09888.HK) declined less than 1%. NTES-S (09999.HK)'s new game "Naraka Bladepoint Mobile" saw over 40 million players pre-registering for public beta, and its shares hiked 4.6%, becoming the biggest blue-chip gainer. Chinese property stocks weakened in the afternoon, with SUNAC (01918.HK) shedding 2.8% amid reports that Sunac Real Estate Group and other companies had been hit with more than RMB2 billion in forced executions. CHINA VANKE (02202.HK) and SINO-OCEAN GP (03377.HK) cratered 6.8% and 5.6%, while LONGFOR GROUP (00960.HK), AGILE GROUP (03383.HK) and GREENTOWN CHINA (03900.HK) slid 3.7% to 4.2%. In other stocks, HSBC HOLDINGS (00005.HK) decremented 0.2% to $66.65, as HKEX (00388.HK) reduced 1.3% and AIA (01299.HK) receded 3.9%. AAStocks Financial News |
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