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HSI Extends Losses to 540+ Pts After Midday, Missing 19,900-mark; CN Consumers/ Developers/ Insurers Falter
Recommend 86 Positive 143 Negative 93 |
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Opening 92 points, or 0.45%, lower this morning at 20,334, the HSI widened its losses afterward and broke below the 20,000- and 19,900-mark after midday, bottoming at 19,884. It last printed at 19,885, down 541 points or nearly 2.7%, with a turnover of $123.075 billion. After a 21% surge and suspension of treading on the previous day (11th), ZHONGSHENG HLDG (00881.HK) resumed trading today and retreated 13.6% to as low as $16.36 at one point. It last printed at $17.52, down 7.5%, on a volume of 36.8368 million shares, involving $660 million. The company announced a preliminary agreement with Seres to further discuss the distribution of Seres' new energy vehicles. Meanwhile, MEITUAN-W (03690.HK) last shed 5.71% to $175, on a turnover of $5.672 billion. CHINAHONGQIAO (01378.HK) was last at $13.04, plummeting 8.56%, on a turnover of $390 million. Chinese consumer stocks caved under pressure, with JD-SW (09618.HK), CHINA RES BEER (00291.HK), HAIDILAO (06862.HK), LI AUTO-W (02015.HK), BUD APAC (01876.HK), NONGFU SPRING (09633.HK), and ANTA SPORTS (02020.HK) declining about 3-4%. The two major Chinese blue-chip insurers, CHINA LIFE (02628.HK) and PING AN (02318.HK), each fell over 3%. AIA (01299.HK) also sagged 2%. HKEX (00388.HK) lost 3.3%. Among the three major Chinese blue-chip developers, CHINA OVERSEAS (00688.HK), CHINA RES LAND (01109.HK), and LONGFOR GROUP (00960.HK) each eroded about 2%. Foreign media reported that the mainland plans to cut the deed tax on property purchases to as low as 1% to support the housing market. SINOPHARM (01099.HK), WUXI APPTEC (02359.HK), and NTES-S (09999.HK) rallied against the market by 1-2.4%, making them the three best performers among blue chips. AAStocks Financial News |
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