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<H Shrs>HSI Lifts 217 pts at Midday, as Autos & Sportswears Rally; ZHONGSHENG HLDG Surges 9%
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The HSI opened 1 point higher and widened its gain, closing at 16,469 for the midday, up 217 points or 1.3%. HSCEI increased 83 points or 1.4% to 5,833. HSTECH lifted 38 points or 1.1% to 3,378. Half-day turnover totalled $52.116 billion. Technology stocks generally rose, with TENCENT (00700.HK) up 2.3%. LENOVO GROUP (00992.HK) is working with BABA-SW (09988.HK) on AI-related cooperation. LENOVO lifted 1.1% and BABA was flat. BIDU-SW (09888.HK), BILIBILI-W (09626.HK), NTES-S (09999.HK), KUAISHOU-W (01024.HK) and XIAOMI-W (01810.HK) each gained 0.6% to 1.6%. MEITUAN-W (03690.HK) was flat, while JD-SW (09618.HK) descended 0.7%. Car stocks were steady, with LI AUTO-W (02015.HK) up 0.9%. XPENG-W (09868.HK) elevated 3.4% after it signed a strategic cooperation framework agreement with Volkswagen on electronic and electrical architecture technology. GEELY AUTO (00175.HK) mounted 2.2%. BYD COMPANY (01211.HK) rose 1.6% as it launched the first blade battery-equipped 3-axle construction BEVs. NIO-SW (09866.HK) inclined 3.5% as the company's 2024 ET7 model became the first smart EV with a range of more than 1,000 kilometres, with deliveries starting at the end of the month. DONGFENG GROUP (00489.HK) lifted 1.8%. SANDS CHINA LTD (01928.HK) shares lifted 1.8% after its 1Q adjusted property EBITDA surged 53% YoY. In addition, ZHONGSHENG HLDG (00881.HK) was the best-performing blue chip, spiking 9%, while CHINAHONGQIAO (01378.HK) was the worst-performing blue chip, plummeting 4.4%. Huawei's newly launched Pura 70 series smartphones include an innovative ultra-concentration telescopic camera. It is reported that the supplier of the relevant external telescopic parts is AAC TECH (02018.HK). AAC advanced 3.6%. ANTA SPORTS (02020.HK) rallied nearly 5%, as the retail sales of its Anta brand recorded mid-single-digit YoY growth in 1Q24. Daiwa commented that ANTA has achieved high quality and comprehensive growth again in 1Q, while Goldman Sachs also said ANTA is making steady progress in achieving its full-year target. Sportswear stocks XTEP INT'L (01368.HK) and LI NING (02331.HK) mounted 3.2% and 2.8% respectively. SHENZHOU INTL (02313.HK) hiked 5.7%, with Citi finding bullishness in Adidas, a client of SHENZHOU, raising its guidance this year. ESPRIT HOLDINGS (00330.HK) announced plans to partner with a private equity group to reorganise its European operations, and the stock skyrocketed 22%. LINGBAO GOLD (03330.HK) shares waned 2.5% after it placed shares at a 16% discount, aiming to raise $79.3 million. KIN YAT HOLD (00638.HK) surged 24.1% after the resumption of trading this morning, with its chairman proposing privatisation at a premium of 33.3%. AAStocks Financial News |
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