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<H Shrs>HSI Swells 217 Pts; Financials Swell; BABA-SW Bounces 4%+
Recommend 170 Positive 191 Negative 161 |
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The HSI advanced 217 points, or 1.3%, to close at 17,238. The HSCEI rose 69 points, or 1.2%, to close at 6,080. The HSTECH climbed 22 points, or 0.7%, to close at 3,466. Market turnover for the whole day aggregated $84.728 billion. Chinese banks and insurers performed well. CCB (00939.HK), ICBC (01398.HK), and BANK OF CHINA (03988.HK) gained 1.3% to 1.8%, while ABC (01288.HK) and BANKCOMM (03328.HK) climbed 2.3%. PICC P&C (02328.HK) and ZA ONLINE (06060.HK) edged up 1.9% and 1.7%. As for other financials, HSBC HOLDINGS (00005.HK) and HANG SENG BANK (00011.HK), which will announce results this week, hiked nearly 1.6% and 3% respectively. HKEX (00388.HK) and AIA (01299.HK) were up 0.9% and 1.5%. The prospect of interest rate cuts favored property and utility stocks, with LINK REIT (00823.HK), SWIREPROPERTIES (01972.HK), CLP HOLDINGS (00002.HK), and HK & CHINA GAS (00003.HK) rising 1.5% to 1.9%. In terms of techs, with its Alibaba Cloud technology being used to broadcast the Olympic Games, BABA-SW (09988.HK) was speculated higher by 4.7% to $76.55. TENCENT (00700.HK) and MEITUAN-W (03690.HK) grew 1.1% and 0.7%. JD-SW (09618.HK), BIDU-SW (09888.HK), KUAISHOU-W (01024.HK), and BILIBILI-W (09626.HK) rose 1.4% to 1.6%. XIAOMI-W (01810.HK) jumped up 2.8%, while NTES-S (09999.HK) dropped 2.3%. In addition, XD INC (02400.HK) surged 12.1%, while MEITU (01357.HK) and KINGSOFT CLOUD (03896.HK) gained 6.9% and 3%. The chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) slipped 2.5%. Handset component stock SUNNY OPTICAL (02382.HK) dived 3.5%. AAStocks Financial News |
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