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<H Shrs>HSI Slips 287 Pts at Midday as POP MART Plunges 8%; BIDU-SW Mounts 3%+ Against Mkt Trend
Recommend 118 Positive 170 Negative 81 |
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Hong Kong stocks were under pressure this morning (8th). The HSI lost 287 points or 1.1% to 25,797 at midday, nearing its low. The HSCEI dropped 106 points or 1.2% to 9,091. The HSTECH ebbed 13 points or 0.2% to 5,649. The half-day turnover of the market amounted to $115.401 billion. BIDU-SW (09888.HK) clarified that it is assessing a proposed spin-off listing of Kunlunxin (Beijing) Technology, boosting its share price by 3.3% at midday to become the best-performing blue chip. For other techs, BABA-W (09988.HK) shed 1.1%, while TENCENT (00700.HK) faded 0.8%. XIAOMI-W (01810.HK) waned 1.6%, while JD-SW (09618.HK), MEITUAN-W (03690.HK), BILIBILI-W (09626.HK), NTES-S (09999.HK) and KUAISHOU-W (01024.HK) sagged 0.2-1.2%. Chip stock SMIC (00981.HK) mounted 3.2%. For individual stocks, POP MART (09992.HK) plunged 8.2% to become the worst-performing blue chip, as Deutsche Bank highlighted that Labubu's market premium declined, with a half-day turnover of $3.383 billion. INNOVENT BIO (01801.HK) descended over 8% after opening higher on its first day of blue chip inclusion, although seven of its innovative products were added to the updated National Reimbursement Drug List of China, with a half-day turnover of $3.509 billion. AAStocks Financial News Website: www.aastocks.com |
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