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<H Shrs>HSI Slips 278Pts at Close; MEITUAN-W Dives 3%+
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The HSI settled at 25,388, down 278 points or 1.1%. The HSCEI closed at 9,150, down 107 points or nearly 1.2%. The HSTECH dipped 65 points or 1.1% to 5,677. Total market turnover was HKD281.77 billion. For the week, the HSI amassed gains of 562 points or nearly 2.3%. The “ATMXJ” tech heavyweights (Alibaba, Tencent, Meituan, Xiaomi, and JD.com) were meager. TENCENT (00700.HK) fell 1.2%. XIAOMI-W (01810.HK), BABA-W (09988.HK), and JD-SW (09618.HK) dropped 1.8-2.1%. MEITUAN-W (03690.HK) slid 3.2%. KUAISHOU-W (01024.HK) was the worst-performing blue-chip, diving 4.9% to HKD72.5. Meituan recently held a food delivery industry meeting in Shanghai, where merchants expressed concerns about being forced into a price war. Key automakers jumbled. BYD COMPANY (01211.HK) and LI AUTO-W (02015.HK) shed 1.6-1.9%. GAC GROUP (02238.HK) and XPENG-W (09868.HK) sank 0.8-0.9%. LEAPMOTOR (09863.HK) and GEELY AUTO (00175.HK) lifted 1.6-1.7%. GWMOTOR (02333.HK) inched up 0.3%. Auto dealer ZHONGSHENG HLDG (00881.HK), which surged in recent days, closed down 1.4%. CKH HOLDINGS (00001.HK), which closed up 2.2%, is in exclusive negotiations to sell its port business, with a deadline set for Sunday (27th), Reuters, citing sources, reported. However, the deadline may be extended, and ongoing political complexities make it unlikely for the deal to conclude in the near term. The Airport Authority Hong Kong is in talks with NEW WORLD DEV (00017.HK), which closed down 1.8%, as it considers finding a new partner to take over and complete the “11 Skies” project, the South China Morning Post, citing sources, reported. The relevant financial terms are still under negotiation. AAStocks Financial News |
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