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<H Shrs>HSI Fades 246 pts at Midday as MEITUAN Subtracts; Gold Miners, Resource Stocks Slip
Recommend 419 Positive 157 Negative 551 |
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The HSI faded 246 points or 1.4% to 17,064 at midday. The HSCEI slipped 106 points or 1.7% to 6,036. The HSTECH lost 51 points or 1.5% to 3,439. The total half-day turnover for the market amounted to $57.202 billion. For techs, MEITUAN-W (03690.HK) sagged 4.8% to $107.9, while TENCENT (00700.HK), XIAOMI-W (01810.HK) and BIDU-SW (09888.HK) dropped 1.7-2.2%. BABA-SW (09988.HK), JD-SW (09618.HK), NTES-S (09999.HK), KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) slid less than 1%, while MEITU (01357.HK), rallied 9.7% as it expected to post an at least 80% growth in 1H24 adjusted net profit. Gold and silver stocks declined significantly. CHI SILVER GP (00815.HK), ZHAOJIN MINING (01818.HK), CHINAGOLDINTL (02099.HK) and LINGBAO GOLD (03330.HK) slumped 6.6-7.9%, while SD GOLD (01787.HK) and ZIJIN MINING (02899.HK) receded 4.5%. Resource stock CMOC (03993.HK) eroded 5.6%, while CHALCO (02600.HK), JIANGXI COPPER (00358.HK) and MMG (01208.HK) shed 3-3.8%. Energy stocks softened. Oil producers PETROCHINA (00857.HK) and CNOOC (00883.HK) cascaded 3.8% and 2.9%, while coal stocks CHINA SHENHUA (01088.HK), YANKUANG ENERGY (01171.HK) and CHINA COAL (01898.HK) cratered 2.4%. AAStocks Financial News |
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