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HSI Sinks 250+ Pts After Midday as Mkt Awaiting CN Rare Earth Announcement; KUAISHOU-W Slips 6%; DJIA Futures Fall 150+ Pts
Recommend 130 Positive 210 Negative 124 |
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The US and China have reached a trade consensus, with the US maintaining the tariff rates on China but lifting certain export controls. China is also said to resume rare earth magnet exports for six months, the official announcement of which is now in the market's spotlight. After settling the midday down 121 points, the HSI further deepened its decline and once sank to a bottom of 24,102 with a slump of 264 points. It last printed at 24,112, down 254 points or about 1%, with a turnover of HKD155.825 billion. Heavyweight tech stocks weighed on the market. KUAISHOU-W (01024.HK) last traded at HKD58.3, down 6.27%, with a turnover of HKD2.968 billion. XIAOMI-W (01810.HK) was last at HKD52.8, down 2.4%, with a turnover of HKD3.696 billion. BABA-W (09988.HK) was last at HKD115.2, down 2.7%, with a turnover of HKD4.541 billion. MEITUAN-W (03690.HK), TENCENT (00700.HK), and JD-SW (09618.HK) slid 1.1-1.6%. Chinese consumer stocks trended downward. CHINA RES BEER (00291.HK), BYD COMPANY (01211.HK), HAIDILAO (06862.HK), LI NING (02331.HK), and ANTA SPORTS (02020.HK) eroded 2.3-3.3%. BUD APAC (01876.HK) even dived 5.1%. SINO BIOPHARM (01177.HK) rocketed 15% to HKD5.49, making it the best performer among blue-chip stocks. It once climbed to an over three-year high of HKD 5.62 intraday. Two major blue chips under the WuXi series also performed positively. WUXI BIO (02269.HK) and WUXI APPTEC (02359.HK) rose 3.6-4.7%. Their same series JW THERAP-B (02126.HK) and WUXI XDC (02268.HK) gained 7% and 2.8%. Additionally, CSPC PHARMA (01093.HK) and HANSOH PHARMA (03692.HK) escalated 2.7-3.6%. The tension in the Middle East drove up international gold prices. ZIJIN MINING (02899.HK) mushroomed 6.5%. SD GOLD (01787.HK), CHINAGOLDINTL (02099.HK), CHIFENG GOLD (06693.HK), and ZHAOJIN MINING (01818.HK) added 3-4.7%. WANGUO GOLD GP (03939.HK) shot up 9.5%. LAOPU GOLD (06181.HK), a popular stock in the gold jewelry sector, last traded at HKD916.5, up 5.95%, with a turnover of HKD1.165 billion. Another well-favored stock POP MART (09992.HK) reached a historical high of HKD283.4 this morning, but its momentum softened after midday. It was last at HKD273.8, up 1.48%, with a turnover of HKD5.349 billion, already surpassing the previous day's total. In addition, the DJIA futures last faded 153 points or 0.4% to 42,755. The S&P 500 futures dropped 18 points or 0.3% to 6,010. The Nasdaq futures dipped 67 points or 0.3% to 21,820. AAStocks Financial News |
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