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<H Shrs>HSI Ends Down 244 Pts; Some AI Concepts Meager; KUAISHOU-W Slips ~6%
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Following a over-500-point surge the previous day, Hong Kong bourse pulled back today (7th). The HSI opened 135 points lower; with deepened losses, it dived as much as 318 points to bottom at 26,167 before closing down 244 points, or 0.9%, at 26,241. The HSCEI dipped 88 points, or 0.9%, to 9,267. The HSTECH declined 106 points, or 1.8%, to 5,837. Total daily turnover reached HKD209.644 billion. Techs copied the weak overseas performance. TENCENT (00700.HK) and MEITUAN-W (03690.HK) fell 1.6% and 1.3%, respectively. JD-SW (09618.HK) slid 2.3%. BABA-W (09988.HK), XIAOMI-W (01810.HK), and BILIBILI-W (09626.HK) stumbled 2.8-3.5%. AI-related names were notably feeble, with KUAISHOU-W (01024.HK) tumbling 5.9%, and SENSETIME-W (00020.HK), GDS-SW (09698.HK), KINGDEE INT'L (00268.HK), MEITU (01357.HK), and KINGSOFT CLOUD (03896.HK) plunging 3.5-4.2%. Telecom infrastructure players ZTE (00763.HK) and YOFC (06869.HK) plummeted 2.8% and 3.4%, respectively. In the chip sector, HUA HONG SEMI (01347.HK) dropped 0.8% after reporting a 43% YoY downfall in 3Q net profit, while SMIC (00981.HK) retreated 1.9%. Besides, NEW ORIENTAL-S (09901.HK), and EAST BUY (01797.HK), under the same series, cratered 5% and 5.4%, respectively, and mobile component maker Q TECH (01478.HK) plunged 5.6%. In the automotive sector, XPENG-W (09868.HK) and BYD COMPANY (01211.HK) gained 1.7% and 0.3%, respectively, while NIO-SW (09866.HK) cascaded 5.1%. Semi-IPO SERES (09927.HK) extended losses by 8%. Autonomous driving developers WERIDE-W (00800.HK) and PONY-W (02026.HK) cratered 13.4% and 11.3%, respectively. Lithium stocks bucked the trend, with GANFENGLITHIUM (01772.HK) and TIANQI LITHIUM (09696.HK) soaring 3.7% and 7.5%. AAStocks Financial News |
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