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<H Shrs>HSI Opens Up 185 Pts; SUNAC Slips ~15%; CHINA LIFE Up 6%+
Recommend 69 Positive 124 Negative 69 |
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Hong Kong bourse opened higher in the morning session, copying the uptrend of the US market. The HSI opened 185 pts or 0.9% higher at 20,471; the HSCEI opened 63 pts or 0.9% higher at 7,331; and the HSTECH opened 47 pts or 1.1% higher at 4,449. The market is on the see-saw for what the Ministry of Housing and Urban-Rural Development (MOHURD) and the People's Bank of China (PBOC) and other government departments will say at their press conference. The DJIA spiked 337 pts or 0.8% to a record closing high on the back of better-than-expected quarterly results from Morgan Stanley (MS.US) and a rebound in Nvidia (NVDA.US) share price. SUNAC (01918.HK) plunged 14.9% at $2.62 at open after planning to raise $1.19 billion in net proceeds through a nearly 20% discount top-up placing. Other Chinese property developers opened lower, with R&F PROPERTIES (02777.HK) and SHIMAO GROUP (00813.HK) slipping 13.1% and 9.3%; and CIFI HOLD GP (00884.HK) and CHINA VANKE (02202.HK) diving 6.7% and 5.9%. LONGFOR GROUP (00960.HK) cratered 3.2%. Wanda had reportedly paid CG SERVICES (06098.HK) RMB3.142 billion for the transfer of its shares, and CG SERVICES opened 1.8% higher at $6.06. CHINA LIFE (02628.HK) announced a preliminary net profit growth of 1.65-1.85 times YoY for the first three quarters, and its share price opened 6.3% higher. Among other financials, HSBC HOLDINGS (00005.HK) gained 0.7%, while HKEX (00388.HK) and AIA (01299.HK) hiked 1.4% and 1.2%. Among techs, BABA-W (09988.HK) lifted 1.1% at $100. TENCENT (00700.HK) inched up 0.5% at $418. MEITUAN-W (03690.HK), XIAOMI-W (01810.HK) and JD-SW (09618.HK) climbed 1.8%-2%. BIDU-SW (09888.HK) mounted 1.3%. AAStocks Financial News |
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