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<H Shrs>HSI Closes Plunging 436 Pts on 1st Trading Day of 2025; SUNART RETAIL Sinks 20%; SMIC Collapses ~9%
Recommend 83 Positive 131 Negative 72 |
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Hong Kong bourse faltered on the first trading day of 2025. The HSI closed plunging 436 points or 2.2% at 19,623. The HSCEI fell 199 points or 2.7% to close at 7,090. The HSTECH slipped 110 points or 2.5%, closing at 4,357. The total market turnover for the day amounted to $164.784 billion. BABA-W (09988.HK) sold all of its shares in SUNART RETAIL (06808.HK), sinking SUNART RETAIL's stock price by 20.2% to $1.98 for the day. BABA-W (09988.HK) dipped 1.3% to $81.3. Among other tech stocks, TENCENT (00700.HK) inched down 0.2%. NTES-S (09999.HK) and MEITUAN-W (03690.HK) edged down 0.7%. JD-SW (09618.HK), BIDU-SW (09888.HK), KUAISHOU-W (01024.HK), and BILIBILI-W (09626.HK) shed 1.9-3.2%. In addition, EAST BUY (01797.HK) rose 2.9%, while KINGSOFT (03888.HK), KINGDEE INT'L (00268.HK), SENSETIME-W (00020.HK), KINGSOFT CLOUD (03896.HK), and JD HEALTH (06618.HK) lost 4.9-6.1%. CHINASOFT INT'L (00354.HK) dived 7.7%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) plummeted 8.8% and 6.7%, while handset component stocks SUNNY OPTICAL (02382.HK) and BYD ELECTRONIC (00285.HK) eroded 4.4% and 4.8%. Chinese media reported that XIAOMI-W (01810.HK) aims to deliver 300,000 vehicles in 2025. XIAOMI-W subtracted 1.4% to $34. Car makers GEELY AUTO (00175.HK) and GWMOTOR (02333.HK) sagged 5% and 4.8%, while BYD COMPANY (01211.HK), XPENG-W (09868.HK), and LEAPMOTOR (09863.HK) drooped 3.2-3.5%. Consumer stocks turned south after midday. CHINA RES BEER (00291.HK), CHINA FEIHE (06186.HK), JIUMAOJIU (09922.HK), CTG DUTY-FREE (01880.HK), and MENGNIU DAIRY (02319.HK) receded 4-4.8%, while BUD APAC (01876.HK), LI NING (02331.HK), TSINGTAO BREW (00168.HK), and TRIP.COM-S (09961.HK) slid 3.5-3.7%. Chinese financials also declined. Chinese banks CM BANK (03968.HK), ICBC (01398.HK), and CCB (00939.HK) cratered 3.6-4.3%. Chinese insurers PING AN (02318.HK), ZA ONLINE (06060.HK), PICC P&C (02328.HK), PICC GROUP (01339.HK), and CHINA LIFE (02628.HK) cascaded 3.9-4.9%, while CPIC (02601.HK) slumped 7.7%. AAStocks Financial News |
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