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<H Shrs>HSI Slips 387 Pts at Close w/ Deals $173.2B+; CN Consumers & Developers Feeble
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Opening 197 points lower, the HSI rose 35 points to peak at 19,859 in the early session, but then turned downwards, once bottoming at 19,392 with a slump of 430 points after midday. It eventually ended the day down 387 points or 2% at 19,435. The HSCEI fell 157 points or 2.2% to close at 6,973. The HSTECH dropped 137 points or 3.1% to close at 4,318. The total market turnover for the day was $173.262 billion. TENCENT (00700.HK) reported a 33% increase in its 3Q non-IFRS earnings, beating expectations, and expected full-year buybacks to top its $100 billion target, yet its stock price edged down 0.1% for the day. ALI HEALTH (00241.HK)'s interim net profit surged 73%, but its stock price dived 3.1%. Among other tech stocks, BABA-W (09988.HK) and BIDU-SW (09888.HK) sagged 2.9% and 2.7%, while XIAOMI-W (01810.HK), MEITUAN-W (03690.HK), BILIBILI-W (09626.HK), and KUAISHOU-W (01024.HK) dipped 3.5-3.8%. JD-SW (09618.HK), which is set to announce its results, tumbled 4.7%. Additionally, KINGSOFT CLOUD (03896.HK) and WEIMOB INC (02013.HK) were speculated higher by 7.5% and 14%, respectively, while MEITU (01357.HK) soared 5.5%. CHINASOFT INT'L (00354.HK) and EAST BUY (01797.HK) dived 6.1%, and NEW ORIENTAL-S (09901.HK) cratered 7.7%. In the automotive sector, LI AUTO-W (02015.HK), NIO-SW (09866.HK), and BYD COMPANY (01211.HK) lost over 3%, while XPENG-W (09868.HK) waned 6.9%. Auto dealer ZHONGSHENG HLDG (00881.HK) slumped 7.4%. Consumer stocks faltered. JIUMAOJIU (09922.HK) sank 7.7%. WANT WANT CHINA (00151.HK), HISENSE HA (00921.HK), and CR BEVERAGE (02460.HK) plunged over 6%. TOPSPORTS (06110.HK) and logistics stock JD LOGISTICS (02618.HK) plummeted 5.7% and 5.8%, respectively. BUD APAC (01876.HK), CHINA RES BEER (00291.HK), MENGNIU DAIRY (02319.HK), and CTG DUTY-FREE (01880.HK) sagged 3.5-4.6%. Chinese developers' losses widened after midday. AGILE GROUP (03383.HK), SUNAC (01918.HK), LONGFOR GROUP (00960.HK), and SEAZEN (01030.HK) nosedived 6.7-7.7%. CHINA VANKE (02202.HK), CIFI HOLD GP (00884.HK), SINO-OCEAN GP (03377.HK), and R&F PROPERTIES (02777.HK) tumbled 5.1-6.1%. AAStocks Financial News |
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