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<H Shrs>HSI Sags 347 Pts at Midday; Kuaishou Plummets 13%; Pop Mart Slips Another 9%
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KUAISHOU-W (01024.HK) and POP MART (09992.HK) posted sharp declines in their share prices after announcing their results. The Hong Kong bourse opened lower and continued to fall. By midday, the HSI nosedived 347 points or 1.4% to 24,988. The HSCEI lost 130 points or 1.5% to 8,452. The HSTECH shed 105 points or 2.1% to 4,817. The total market turnover for the half-day was HKD136.729 billion. KUAISHOU-W (01024.HK) logged a 16% hike in adjusted net profit for 4Q25, nearing the upper end of forecast. Management revealed an increase in AI investment, with market attention on challenges from the AI video model SkyReels-V4. The stock plummeted 13.4% to HKD45.96. KINGSOFT (03888.HK) saw a 29% rise in annual net profit, with its stock price soaring 5.6%. KINGSOFT CLOUD (03896.HK) reported a 2.66-fold surge in annual adjusted EBITDA, with its stock price leaping 2.3%. Among other techs, TENCENT (00700.HK) dipped 0.9%. MEITUAN-W (03690.HK) announced its results after the market closed, with its stock ebbing 3.1%. BABA-W (09988.HK) fell off 3.7%, while BIDU-SW (09888.HK) and NTES-S (09999.HK) dropped 1.3% and 1.8%, respectively. JD-SW (09618.HK) added 1.7%. XD INC (02400.HK), JD HEALTH (06618.HK), ALI HEALTH (00241.HK), and KINGDEE INT'L (00268.HK) slid over 3%, with PA GOODDOCTOR (01833.HK) slumping 5.3%. Among chip stocks, SMIC (00981.HK), HUA HONG SEMI (01347.HK), BIREN TECH (06082.HK), and ILUVATAR COREX (09903.HK) each cratered over 4%. AI stock KNOWLEDGE ATLAS (02513.HK) announced a partnership to develop multimodal model technology for the next generation of S-class sedans, with its stock slipping 7%. MINIMAX-W (00100.HK) plunged 5.1%, while PHANCY (06682.HK) shot up 5.9%. AASTOCKS Financial News Website: www.aastocks.com |
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