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<H Shrs>HSI Closes Down 223 Pts as BABA/ XIAOMI Subtract; LI NING & CATL Rally 8%+
Recommend 42 Positive 71 Negative 37 |
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Hong Kong stocks weakened, dragged down by declines in BABA-W (09988.HK) and XIAOMI-W (01810.HK). The HSI slid 223 points or 0.9% to close at 25,277. The HSCEI lost 121 points or 1.4% to close at 8,574. The HSTECH shrank 123 points or 2.5% to close at 4,872. The FTSE index underwent a constituent stock change after the market closed, with total market turnover for the day reaching $342.518 billion. BABA-W (09988.HK) charted a 67% slump in non-GAAP net profit for 3FQ, way worse than forecast, denting its share price by 6.3%. XIAOMI-W (01810.HK) announced that the price of its new generation SU7 was reduced by RMB6,000 to RMB10,000 from the pre-sale price, and declared an investment of over RMB60 billion in AI over the next three years. XIAOMI-W’s stock price descended 8.6% to close at $33.2. For other techs, TENCENT (00700.HK) slipped 1% to $508, while MEITUAN-W (03690.HK), JD-SW (09618.HK) and BIDU-SW (09888.HK) waned 1.9%. KUAISHOU-W (01024.HK) sagged 2.8%, while NTES-S (09999.HK) and BILIBILI-W (09626.HK) dropped 0.5% and 1.1%. MEITU (01357.HK) and KINGSOFT CLOUD (03896.HK) stumbled 5.3% and 7.3%, while CHINA LIT (00772.HK) and KINGSOFT (03888.HK) shrank 4.6% and 3.3%. Market rumors suggest Elon Musk’s team is making large-scale procurement of domestic photovoltaic equipment, sparking a speculation in energy storage and green energy concept stocks. CATL (03750.HK) and CALB (03931.HK) shot up 8.4% and 5.2%, while FIT HON TENG (06088.HK) escalated 7.4%. XINYI SOLAR (00968.HK), CGN POWER (01816.HK) and EB ENVIRONMENT (00257.HK) mounted over 3%, as EB ENVIRONMENT announced at midday that its profit increased by 16% last year. Lithium stock GANFENGLITHIUM (01772.HK) advanced 5.1%. CKH HOLDINGS (00001.HK) reported a 7% YoY increase in underlying profit last year, with its final DPS raised to $1.602, boosting its share price by 0.6%. CK ASSET (01113.HK) marked a 21% drop in full-year net profit, with a final DPS of $1.39, and the stock faded 1.2%. LI NING (02331.HK) logged a 3% decline in net profit last year, beating market consensus, with the stock hyping up 8.6% to $21.44. CHINA UNICOM (00762.HK)'s full-year net profit rose 1%, while its final DPS fell to RMB13.29 cents, and its stock price cratered 3.3% to $7.29. AAStocks Financial News Website: www.aastocks.com |
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