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<H Shrs>HSI Opens 212 Pts Lower as XIAOMI-W Loses; Pharmas Subtract
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The HSI opened 212 points or 0.8% lower at 26,272. The HSCEI opened 77 points or 0.8% lower at 9,366. The HSTECH opened 61 points or 1% lower at 6,317. XIAOMI-W (01810.HK) launched its Xiaomi 17 series smartphones, disclosed that it has delivered over 40,000 units of YU7, and announced an investment of at least RMB50 billion in chip manufacturing. The stock slid 0.8% to $59. For other techs, BABA-W (09988.HK) waned 2.1%, while TENCENT (00700.HK) lost 0.8%. MEITUAN-W (03690.HK), JD-SW (09618.HK), NTES-S (09999.HK), BILIBILI-W (09626.HK) and SMIC (00981.HK) dropped 1.1-1.6%, while BIDU-SW (09888.HK) picked up 0.2%. KUAISHOU-W (01024.HK) ebbed 0.1%. Handset parts stocks BYD ELECTRONIC (00285.HK) and SUNNY OPTICAL (02382.HK) faded 0.9% and 1.9%. As the US will impose a 100% tariff on branded or patented drugs starting October, WUXI APPTEC (02359.HK) cascaded 2.1%, while WUXI BIO (02269.HK) and BEIGENE (06160.HK) eroded 3% and 3.5%. AASTOCKS Financial News Website: www.aastocks.com |
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