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<H Shrs>HSI Tumbles 340 Pts at Midday; Techs Subdued; Pharmas In Demand
Recommend 29 Positive 48 Negative 31 |
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At midday close, the HSI marked at 26,732, down 340 points or 1.3%; the HSCEI dropped 132 points or 1.4% to 9,466; and the HSTECH sank 131 points or 2.2% to 5,849. Half-day market turnover totaled HK$125.015 billion. TENCENT (00700.HK) logged an 18% YoY hike in 3Q non-IFRS net profit to RMB70.551 billion, beating expectations, with its share price down 0.9% to HK$650 at midday. BILIBILI-W (09626.HK) posted a 2.3-fold YoY rise in 3Q non-GAAP net profit to RMB787 million, but its share price lost 1.8%. JD-SW (09618.HK) plunged 5.6% to close at HK$117.4. The company’s 3Q non-US GAAP net profit faded 56% YoY to RMB5.8 billion, still beating expectations. However, Nomura cited JD management stating that JD Retail revenue is expected to grow about 10% and operating profit about 20% for FY2025, implying 4Q revenue and operating profit will decline about 5% and about 23% YoY, respectively, contrasting market expectations of about 5% revenue growth and about 10% operating profit growth for JD Retail in 4Q. Pharmaceutical stocks saw buying interest, with HANSOH PHARMA (03692.HK) up 2.5% against the market trend, CSPC PHARMA (01093.HK) up 1.3%, and SINO BIOPHARM (01177.HK) also up 1.2%. AAStocks Financial News |
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