Back    Zoom +    Zoom -
<H Shrs>HSI Lifts 444 pts at Close, as HSTECH Hikes 4.5%; STANCHART Surges 6% Post-results
Recommend
154
Positive
310
Negative
135
Hong Kong stocks advanced for the 8th consecutive trading day as the US Federal Reserve kept interest rates unchanged. HSI lifted 444 points or 2.5% to close at 18,207. HSCEI elevated 163 points or 2.6% to close at 6,437. HSTECH surged 164 points or 4.5% to close at 3,865. Total market turnover for the whole day was $115.912 billion.

As for financial stocks, STANCHART (02888.HK)'s 1Q underlying profit before tax grew 25%, far exceeding expectations, and its share price rallied 6%. HSBC HOLDINGS (00005.HK) inclined 3.4% to $69.25, HKEX (00388.HK) elevated 5.2% to $264.8, and AIA (01299.HK) rose 2.7% to $59.35. Mainland insurers PING AN (02318.HK) lifted 5.7%, while CHINA LIFE (02628.HK), CPIC (02601.HK) and ZA ONLINE (06060.HK) ascended 3.8% to 4.5%. Mainland bank CM BANK (03968.HK) advanced 3.8%.

Related NewsCiti: HSBC HOLDINGS Faces Increased Overhang Risk for PING AN's Stake Cut, But This Will be Over Prolonged Period to Maximize Value
Tech stocks traded higher. MEITUAN-W (03690.HK) surged 8.8% to $119.1, while BABA-SW (09988.HK) and TENCENT (00700.HK) elevated 2.4% and 3.8%. JD-SW (09618.HK) and KUAISHOU-W (01024.HK) inclined 4.9% and 5.8%, BILIBILI-W (09626.HK) swelled 4.2%, and XIAOMI-W (01810.HK) rose 1.8%.

In addition, SENSETIME-W (00020.HK) and WEIMOB INC (02013.HK) skyrocketed 36.1% and 14.4%, as KINGDEE INT'L (00268.HK), JD HEALTH (06618.HK) and ALI HEALTH (00241.HK) soared 10.7% to 11.5%. PA GOODDOCTOR (01833.HK) and KINGSOFT CLOUD (03896.HK) mounted 8.1% and 9.6%, while KINGSOFT (03888.HK), XD INC (02400.HK), CHINA LIT (00772.HK) and EAST BUY (01797.HK) rallied 5.4% to 7%. Mobile phone component stocks Q TECH (01478.HK) and SUNNY OPTICAL (02382.HK) spiked 10.2% and 4%.

On the auto front, NIO-SW (09866.HK) shares rocketed 20.7% after deliveries grew 135% in April. LEAPMOTOR (09863.HK) April deliveries increased 72% YoY, and its share price surged 15.1%, LI AUTO-W (02015.HK) April deliveries incremented 0.4%, and its share price escalated 3.5%. XPENG-W (09868.HK) April deliveries inclined 33% YoY, and its share price ramped up 8.2%. GEELY AUTO (00175.HK) and BYD COMPANY (01211.HK) added 3.5% and 4.4%. Auto agent ZHONGSHENG HLDG (00881.HK) ascended 8.5%.

Related NewsUBS Elevates MEITUAN-W TP to $146, Continues to be Bullish on TENCENT, PDD (PDD.US)
Macau's GGR in April hiked 26% YoY. SANDS CHINA LTD (01928.HK) up 3.3%. MGM CHINA (02282.HK) saw its 1Q adjusted EBITDA up 77%, and its shares elevated 4.8%. MELCO INT'L DEV (00200.HK) subsidiary Melco Resorts logged 57% growth in 1Q adjusted EBITDA, and MELCO shares spiked 7.3%.

Oil prices slumped. PETROCHINA (00857.HK) and SINOPEC CORP (00386.HK) retreated 3.8% and 2.1% respectively.



Related NewsBofAS Trims LI AUTO-W (02015.HK) TP to $160, Expects Lower 1H24 Margins
AAStocks Financial News