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<H Shrs>HSI Adds 11 Pts at Midday as HANG SENG BANK Soars 26%; Chip/ AI Concepts Continue to Surge
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The HSI inched up 11 points or less than 0.1% to 26,840 at midday. The HSCEI gained 49 points or 0.5% to 9,573. The HSTECH added 41 points or 0.6% to 6,555. Total half-day turnover of the market amounted to $207.38 billion. HSBC HOLDINGS (00005.HK) planned to privatize HANG SENG BANK (00011.HK) at a 30.3% premium. HSBC HOLDINGS expected to suspend share buybacks for the next three quarters. Hence, HSBC HOLDINGS eroded 6.2% to $103.7, while HANG SENG BANK soared 26.3% to $150.3. Hong Kong banks DAHSING BANKING (02356.HK) and BANK OF E ASIA (00023.HK) advanced 5.5% and 5.6%. AI-related stocks ascended. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) elevated 2.3% and 6.8%, while chip equipment stock ASMPT (00522.HK) rallied 9%. Server producer LENOVO GROUP (00992.HK) swelled 6.4%, while telecom equipment stock ZTE (00763.HK) and power infrastructure stock SH ELECTRIC (02727.HK) spiked 10.7% and 15.7% respectively. Power utility CGN POWER (01816.HK) leaped 5.4%, while CHINA POWER (02380.HK), DATANG POWER (00991.HK) and HUANENG POWER (00902.HK) mounted 3.1-4%. Clean energy-related stocks also inclined, with GOLDWIND (02208.HK) and FLAT GLASS (06865.HK) escalating 8.9% and 7.7%. XINTE ENERGY (01799.HK), XINYI SOLAR (00968.HK) and GCL TECH (03800.HK) mushroomed 3.7-4.5%. AASTOCKS Financial News Website: www.aastocks.com |
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