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<H Shrs>HSI Slips 146 Pts at Open; Techs Tumble with External Mkt; Oils Rally Against Trend
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The HSI opened 146 points or 0.8% lower at 18,918. The HSCEI opened 47 points or 0.7% lower at 6,850. The HSTECH opened 37 points or 0.9% lower at 4,222. In the tech sector, BABA-W (09988.HK) opened 1.4% lower at $78.5. TENCENT (00700.HK) opened down 1.3% at $364.8. MEITUAN-W (03690.HK), XIAOMI-W (01810.HK), and JD-SW (09618.HK) inched down 0.8-1%, while BIDU-SW (09888.HK), KUAISHOU-W (01024.HK), and BILIBILI-W (09626.HK) slipped 1.9-2.2%. Ming-Chi Kuo predicted a 6% drop in iPhone shipments in 1H and a continued decline in Apple's market share in China. Handset component stock AAC TECH (02018.HK) opened sliding 1.7%, while BYD ELECTRONIC (00285.HK) edged up 0.5%. SUNNY OPTICAL (02382.HK) recorded a YoY decrease of 1.9% in handset lens sets shipments last month. Its stock price dipped 0.8%. As for car stocks, BYD COMPANY (01211.HK) and NIO-SW (09866.HK) opened 0.9% and 1.7% lower, while XPENG-W (09868.HK) advanced 1.4%. GAC GROUP (02238.HK) forecasted a slump of 73-82% in net profit last year. Its stock price climbed 0.3% to $3.01. In collaboration with Huawei, the company has invested $1.5 billion to establish the GH project company. Among other blue chips, OOIL (00316.HK) reported a 55% YoY surge in 4Q24 total revenue and a 6.1% rise in its total liftings. Its stock price opened up 0.2%. Oil prices skyrocketed on the latest US sanctions on Russian oil. CNOOC (00883.HK) and PETROCHINA (00857.HK) hiked 2% and 1.5% respectively. AAStocks Financial News |
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