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HSI Dives 400+ Pts After Midday as Dragged by Heavyweight Techs, Financials; POP MART Bounces Back 4% Against Trend
Recommend 12 Positive 7 Negative 14 |
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After opening down 44 points this morning (18th), the HSI staged a comeback in early trading, climbing by 149 points to a four-year high of 27,058. From that point onward, however, its momentum dissipated, eventually marking a loss of 47 points at midday. Following the retreat in the A-share market, it last dived by 401 points or about 1.4% to 26,506, with a turnover of HKD283.081 billion. Among the 88 constituents in the HSI, only 9 were on an uptrend. POP MART (09992.HK) last traded at HKD265.8, up 4.07%, with a turnover of HKD4.164 billion, making it the best-performing blue chip. Huawei's in-house 950PR chip is set to launch in 1Q26, fueling market expectations for China's continued chip localization. SMIC (00981.HK) once hit a historical high of HKD73.3. It was last at HKD70, up 3.4%, with a volume of 171 million shares, involving HKD12.183 billion. BIDU-SW (09888.HK) and CSPC PHARMA (01093.HK) rose about 1%. GEELY AUTO (00175.HK) last printed at HKD18.77, down 4.96%, with a turnover of HKD1.808 billion, delivering the worst performance among the blue chips. XINYI SOLAR (00968.HK) last traded at HKD3.41, down 4.75%, with a turnover of HKD289 million. ALI HEALTH (00241.HK) and CHINA OVERSEAS (00688.HK) receded over 3%. Sinking heavyweight techs dragged the board market toward the bottom. TENCENT (00700.HK) and XIAOMI-W (01810.HK) tumbled over 2% after midday. BABA-W (09988.HK) and KUAISHOU-W (01024.HK) slipped 1.9%. The WuXi series was also soft. WUXI BIO (02269.HK) and WUXI APPTEC (02359.HK) lost over 2%. Chinese consumer stock ZHONGSHENG HLDG (00881.HK) eroded 3%. LI AUTO-W (02015.HK), ANTA SPORTS (02020.HK), and LI NING (02331.HK) faded over 2%. Heavyweight financial stocks were thrown into a downward. CCB (00939.HK), HKEX (00388.HK), and PING AN (02318.HK) wobbled over 2%. AIA (01299.HK) slumped 1.7%. AAStocks Financial News |
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