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<H Shrs>HSI Dives 432 Pts at Midday as TENCENT Slides and XIAOMI Up against Mkt
Recommend 113 Positive 198 Negative 146 |
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An Israeli attack on an Iranian gas field prompted Iran’s retaliation against Qatar and Saudi oil and gas facilities. The US PPI for last month beat. The Fed maintained interest rates as expected but reduced the forecast for the number of rate cuts this year to once. The Hong Kong stock market went south in the morning session. The HSI ended the midday down 432 points or 1.7% at 25,592. The HSCEI dropped 115 points or 1.3% to 8,720. The HSTECH lost 80 points or 1.6% to 5,027. The total market turnover for the half-day was HKD153.528 billion. TENCENT (00700.HK) nosedived 5.9%, with the company indicating that buybacks may be pared back given AI investments. Among other techs, BABA-W (09988.HK), which will unveil its quarterly results after the market close, fell off 3.4%. MEITUAN-W (03690.HK) rose 0.7%, while JD-SW (09618.HK), BIDU-SW (09888.HK), and NTES-S (09999.HK) faded 1.5-2.2%. BILIBILI-W (09626.HK) and KUAISHOU-W (01024.HK) slid 4.1% and 5.4%, respectively. PA GOODDOCTOR (01833.HK), CHINASOFT INT'L (00354.HK), WEIMOB INC (02013.HK), and GDS-SW (09698.HK) plunged 3.4-3.8%. TME-SW (01698.HK) tumbled 7.7%. XIAOMI-W (01810.HK) released the flagship model Xiaomi MiMo-V2-Pro, with its stock leaping 4.3%. AI stocks KNOWLEDGE ATLAS (02513.HK) and MINIMAX-WP (00100.HK) cratered 8.3% and 11.8%, while XTALPI (02228.HK) and INSILICO (03696.HK) shed 4.6% and 4.9%. Among chip makers, SMIC (00981.HK) and HUA HONG SEMI (01347.HK) plummeted 2.8% and 3.5%, while BIREN TECH (06082.HK) and ILUVATAR COREX (09903.HK) skydived 5.1% and 10.5%. Fiber optic stock YOFC (06869.HK) slipped 4.2%. Power equipment stocks HARBIN ELECTRIC (01133.HK) and DONGFANG ELEC (01072.HK) sagged over 5%. Automaker BYD COMPANY (01211.HK) added 1.3%. AASTOCKS Financial News Website: www.aastocks.com |
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