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<H Shrs>HSI Closes Down 306 pts; MEITUAN Plummets 5%+, as Resource & Energy Stocks Wane
Recommend 455 Positive 171 Negative 620 |
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HSI declined 306 points or 1.8% to close at 17,004. HSCEI submerged 125 points or 2.1% to close at 6,016. HSTECH fell 69 points or 2% to close at 3,421. The total market turnover for the day was $105.734 billion. Chip equipment maker ASMPT (00522.HK) crashed over 20% yesterday after results, and the stock crumpled another 10.6% to $78.7 today. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) descended 2.8% and 5.2%, while PC maker LENOVO GROUP (00992.HK) dropped 3.9%. In other tech stocks, MEITUAN-W (03690.HK) tumbled 5.5% to $107.1, while TENCENT (00700.HK) fell 3.3% to $351.2. XIAOMI-W (01810.HK) and BIDU-SW (09888.HK) decreased more than 2%, while BABA-SW (09988.HK), JD-SW (09618.HK), NTES-S (09999.HK), KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) declined 0.7% to 1.3%. MEITU (01357.HK) expected its adjusted net profit to grow by at least 80% in 1H24, and its shares surged 7.5% amid the falling market. EAST BUY (01797.HK) rebounded 4.2%. Ford slipped after reporting its results, following Tesla and General Motors. Car stocks NIO-SW (09866.HK) waned 2.6%, while LI AUTO-W (02015.HK) and XPENG-W (09868.HK) dived 1.8% and 1.9%. BYD COMPANY (01211.HK) advanced 0.5% to $234.2. Gold and silver stocks routed significantly, with CHI SILVER GP (00815.HK), SD GOLD (01787.HK), ZIJIN MINING (02899.HK) and LINGBAO GOLD (03330.HK) plummeting 5.1% to 6.8%. ZHAOJIN MINING (01818.HK) and CHINAGOLDINTL (02099.HK) cratered 10% and 11.7%. Resource stocks CMOC (03993.HK) plunged 6.7%, while CHALCO (02600.HK), JIANGXI COPPER (00358.HK) and MMG (01208.HK) shed more than 3%. Energy stocks waned, with KUNLUN ENERGY (00135.HK), PETROCHINA (00857.HK) and CNOOC (00883.HK) submerging 3.4% to 3.9%. Coal stocks YANKUANG ENERGY (01171.HK) and CHINA COAL (01898.HK) also slumped more than 3%. A number of Mainland banks cut deposit rates, but Chinese bank stocks were broadly down. CCB (00939.HK), ABC (01288.HK), ICBC (01398.HK), BANK OF CHINA (03988.HK) and PSBC (01658.HK) declined more than 1%. BANKCOMM (03328.HK) and CM BANK (03968.HK) descended 2.9% and 3.6%. SANDS CHINA LTD (01928.HK) reported a nearly 4% hike in adjusted property EBITDA in the second quarter, which fell short of expectations. The stock faltered 2.7% at close. AAStocks Financial News |
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