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<H Shrs>HSI Leaps 102 Pts at Midday; CN Insurers Thrive; HENGRUI PHARMA Soars 15%
Recommend 156 Positive 278 Negative 133 |
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The HSI concluded the midday up 102 points or 0.4% at 25,490. The HSCEI rose 7 points or less than 0.1% to 9,157. The HSTECH fell 33 points or 0.6% to 5,644. The total market turnover at midday reached HKD149.725 billion. TENCENT (00700.HK), JD-SW (09618.HK), and BABA-W (09988.HK) have released their AI products and specifications. BABA-W rose 1.8% to HKD120.1, while TENCENT and JD-SW inched up 0.2% and 0.8%, respectively. SENSETIME-W (00020.HK) unveiled a new AI model, but its stock price dropped 6.9% at midday. Among other tech stocks, BIDU-SW (09888.HK) edged 0.2% higher. MEITUAN-W (03690.HK) and KUAISHOU-W (01024.HK) fell less than 1%. SMIC (00981.HK), NTES-S (09999.HK), and BILIBILI-W (09626.HK) faded 1.3-1.6%. Q TECH (01478.HK), NEW ORIENTAL-S (09901.HK), and EAST BUY (01797.HK) ballooned over 3%. In the automotive sector, XIAOMI-W (01810.HK) dipped 1.1%. GEELY AUTO (00175.HK) and LEAPMOTOR (09863.HK) lost 1.6% and 2.3%. BYD COMPANY (01211.HK) receded 0.8%. Insurers thrived as China lowered the upper limit of the predetermined interest rate for insurance products. CHINA LIFE (02628.HK), CPIC (02601.HK), PING AN (02318.HK), and CHINA TAIPING (00966.HK) advanced 2.7-3.5%. AIA (01299.HK) was even hyped up 4.5%. HENGRUI PHARMA (01276.HK) announced an innovative drug licensing agreement with GSK, under which HENGRUI PHARMA will receive an upfront payment of USD500 million. If all projects are successfully developed and achieve commercial milestones, the potential total amount could reach around USD12 billion. HENGRUI PHARMA's stock price rocketed 15.4% at midday. AAStocks Financial News |
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