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<H Shrs>HSI Ends Midday Down 297 Pts; CN Financials Falter; Golds Leap Against Mkt
Recommend 130 Positive 230 Negative 127 |
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Hong Kong bourse waned in the morning session of the first trading day of the new year. The HSI settled the midday down 297 points or 1.5% at 19,762. The HSCEI lost 135 points or 1.9% to 7,154. The HSTECH fell 60 points or 1.3% to 4,407. The total half-day turnover for the market amounted to $87.43 billion. BABA-W (09988.HK) sold all of its shares in SUNART RETAIL (06808.HK), sinking SUNART RETAIL's stock price by 16.5% to $2.07 at midday. BABA-W inched down 0.7% to $81.8. Among other tech stocks, TENCENT (00700.HK) and NTES-S (09999.HK) edged up 0.9%. MEITUAN-W (03690.HK) dipped 0.3%. JD-SW (09618.HK), BIDU-SW (09888.HK), KUAISHOU-W (01024.HK), and BILIBILI-W (09626.HK) slipped 1.3-2.2%. In addition, EAST BUY (01797.HK) and WEIMOB INC (02013.HK) climbed 4.4% and 4%, while KINGDEE INT'L (00268.HK), XD INC (02400.HK), JD HEALTH (06618.HK), KINGSOFT (03888.HK), SUNNY OPTICAL (02382.HK), and HUA HONG SEMI (01347.HK) shed 3.3-4.2%. CHINASOFT INT'L (00354.HK) and SMIC (00981.HK) dived 5.2% and 6.9%. Chinese financial stocks faltered. Chinese banks ABC (01288.HK), CM BANK (03968.HK), ICBC (01398.HK), and CCB (00939.HK) slid 2.2-3%. Chinese insurers PING AN (02318.HK), ZA ONLINE (06060.HK), CHINA TAIPING (00966.HK), PICC GROUP (01339.HK), and CHINA LIFE (02628.HK) sagged over 3%. CPIC (02601.HK) cratered 5.2%. Brokers HTSC (06886.HK), HAITONG SEC (06837.HK), CSC (06066.HK), and CGS (06881.HK) tumbled over 4%, while CITIC SEC (06030.HK) plunged 5.9%. Chinese media reported that XIAOMI-W (01810.HK) aims to deliver 300,000 vehicles in 2025. XIAOMI-W closed flat at $34.5. Car makers GEELY AUTO (00175.HK), BYD COMPANY (01211.HK), and LEAPMOTOR (09863.HK) eroded 2.7-3.6%. Gold stocks saw speculation. LINGBAO GOLD (03330.HK) spiked 13.7%, while SD GOLD (01787.HK), CHINAGOLDINTL (02099.HK), and ZHAOJIN MINING (01818.HK) leaped 5.5-7.3%. AAStocks Financial News |
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