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<H Shrs>HSI Slips 340 Pts at Midday as Commodities Stocks Drop; AIA Wanes 4%+
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Hong Kong stocks fell in the morning session. The HSI slipped 340 points or 1.3% to 26,506 at midday. The HSCEI faded 87 points or 1% to 8,960. The HSTECH lost 62 points or 1.2% to 5,304. Total half-day turnover of the market amounted to $168.251 billion. Gold and silver miners declined, with CHI SILVER GP (00815.HK), CHINAGOLDINTL (02099.HK), ZIJIN GOLD INTL (02259.HK) and ZIJIN MINING (02899.HK) slumping 5.9-7.5%. SD GOLD (01787.HK), ZHAOJIN MINING (01818.HK) and LINGBAO GOLD (03330.HK) cascaded 4-5.3%. Resource stocks JIANGXI COPPER (00358.HK), MMG (01208.HK) and CMOC (03993.HK) descended 8.1-9.2%, while CHINAHONGQIAO (01378.HK) and CHALCO (02600.HK) eroded 4.8% and 6.3%. Oil prices softened in the Asian morning session amid renewed market hopes for US-Iran negotiations, denting SINOPEC CORP (00386.HK) and PETROCHINA (00857.HK) by 2.9% and 2.5%. Among other energy stocks, uranium miner CGN MINING (01164.HK) sank 9.1%, while coal stock SHOUGANG RES (00639.HK) shrank 8.1%. YANKUANG ENERGY (01171.HK) cratered 3.1%. Financials fell, with HSBC HOLDINGS (00005.HK) and HKEX (00388.HK) stumbling 1.4% and 2.1%. AIA (01299.HK) receded 4.4%, while STANCHART (02888.HK) sagged 3%. The SHCI shed over 1%, with Chinese insurers CHINA TAIPING (00966.HK), PING AN (02318.HK), CPIC (02601.HK) and CHINA LIFE (02628.HK) sinking 2.6-3.7%. AASTOCKS Financial News Website: www.aastocks.com |
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