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<H Shrs>HSI Ends 347 Pts Lower; Chips, Pharmas Weaken; BIDU-SW Slips ~6%
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The HSI ended the day down 347 points or 1.3% at 25,628. The HSCEI fell 161 points or 1.8%, closing at 8,917. The HSTECH dropped 139 points or 2.5% to close at 5,498. The total market turnover for the day was HKD204.289 billion.

HSBC HOLDINGS (00005.HK) proposed to privatize HANG SENG BANK (00011.HK) for HKD155 per share, with a vote slated for January 8. HSBC HOLDINGS receded 0.9%, while HANG SENG BANK rose 0.3% to HKD153.5.

In the tech sector, BABA-W (09988.HK) faded 3.6% to HKD148.6. TENCENT (00700.HK) shed 2.1% to HKD603. BIDU-SW (09888.HK) and KUAISHOU-W (01024.HK) plunged 5.8% and 4.4%. NTES-S (09999.HK), MEITUAN-W (03690.HK), JD-SW (09618.HK), and BILIBILI-W (09626.HK) lost 0.8-1.8%.

In addition, PA GOODDOCTOR (01833.HK) soared 7.4%. EAST BUY (01797.HK) and NEW ORIENTAL-S (09901.HK) leaped 3.5% and 2.8%. SENSETIME-W (00020.HK), JD HEALTH (06618.HK), and Q TECH (01478.HK) slid 3.6-4.3%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) plummeted 4.4% and 6.4%.

Carmakers XPENG-W (09868.HK), NIO-SW (09866.HK), BYD COMPANY (01211.HK), XIAOMI-W (01810.HK), and LI AUTO-W (02015.HK) retreated 2.3-2.9%. GEELY AUTO (00175.HK) and LEAPMOTOR (09863.HK) even sank 3.2% and 3.7%.

Pharma stocks were under pressure. HANSOH PHARMA (03692.HK) and BEONE MEDICINES (06160.HK) cratered 7.6% and 8.1%. HANSOH PHARMA was the biggest loser among blue chips. AKESO (09926.HK) dived 6.7%. INNOVENT BIO (01801.HK), SINO BIOPHARM (01177.HK), GENSCRIPT BIO (01548.HK), INNOCARE (09969.HK), REMEGEN (09995.HK), and PHARMARON (03759.HK) tumbled 4-5.2%.
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