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<H Shrs>HSI Dives 404 pts at Midday; HSTECH Slips 3%; CCB/ BANK OF CHINA Rally Against Mkt
Recommend 190 Positive 330 Negative 182 |
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The HSI ended the midday down 404 points or 1.7% at 23,022. The HSCEI dropped 126 points or 1.5% to 8,479. The HSTECH slipped 168 points or 3.1% to 5,338. Among tech stocks, BABA-W (09988.HK), TENCENT (00700.HK), JD-SW (09618.HK), and BIDU-SW (09888.HK) slid 2.8-3.9%. XIAOMI-W (01810.HK), BILIBILI-W (09626.HK), and KUAISHOU-W (01024.HK) sagged 4.7-5.4%. MEITUAN-W (03690.HK) dipped 2.4%. LENOVO GROUP (00992.HK), JD HEALTH (06618.HK), WEIMOB INC (02013.HK), PA GOODDOCTOR (01833.HK), BYD ELECTRONIC (00285.HK), and COWELL (01415.HK) sank over 4%. In addition, ALI HEALTH (00241.HK), GDS-SW (09698.HK), FIT HON TENG (06088.HK), and SMIC (00981.HK) plunged over 5%. CHINASOFT INT'L (00354.HK), KINGSOFT CLOUD (03896.HK), Q TECH (01478.HK), and HUA HONG SEMI (01347.HK) nosedived over 6%. Amid reports suggesting that several Chinese banks will gradually raise interest rates on credit consumer loans, car makers BYD COMPANY (01211.HK) and GWMOTOR (02333.HK) eroded 3.4% and 4.1%, while NIO-SW (09866.HK) plummeted 5.3%. Smart driving concept stock HORIZONROBOT-W (09660.HK) ebbed 10.3%. ICBC (01398.HK) inched up 0.4% as its 2024 net profit was in line with expectations. BANK OF CHINA (03988.HK), CCB (00939.HK), BANKCOMM (03328.HK), and PSBC (01658.HK) issued additional A-shares to replenish capital. BANKCOMM and PSBC, which had larger equity dilution, edged down 0.1% and 2%, while CCB and BANK OF CHINA grew 3.3% and 2.4%. AAStocks Financial News |
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