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<H Shrs>HSI Opens 234 pts Down; CTF Plummets 5%+, while ZHAOJIN Crashes 7%+
Recommend 75 Positive 136 Negative 89 |
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Hong Kong stocks opened lower in the morning. HSI opened 234 points or 1.4% lower at 16,487. HSCEI opened lower by 84 points or 1.4% at 5,795. HSTECH opened down 66 points or 1.9% at 3,408. Several enterprises announced their quarterly operating data. OOIL (00316.HK) opened 1.2% lower after the company's 1Q revenue fell 9% YoY. CHOW TAI FOOK (01929.HK) shares opened crumpling 5.3%. Its quarterly retail sales rose 12% YoY, but same-store sales in the mainland fell. ZHAOJIN MINING (01818.HK) shares crashed 7.7% at open after it placed shares at a 9.7% discount, raising over $1.7 billion. On the tech front, TENCENT (00700.HK), BABA-SW (09988.HK), MEITUAN-W (03690.HK), BIDU-SW (09888.HK) and KUAISHOU-W (01024.HK) lowered 1.6% to 2.3% at open. JD-SW (09618.HK) opened declining 2.8% lower, while NTES-S (09999.HK) and BILIBILI-W (09626.HK) opened slumping 3.4% and 4.3%. MOFCOM guided to accelerate the phasing out of passenger cars with pollution standards on or below China III, seeking to complete the elimination by 2025. However, car stocks GEELY AUTO (00175.HK), BYD COMPANY (01211.HK) and LI AUTO-W (02015.HK) opened 1.6% to 2.5% lower, while NIO-SW (09866.HK) and XPENG-W (09868.HK) opened retreating 4.8% and 3.9%. In financials, HSBC HOLDINGS (00005.HK) opened 0.7% lower at $63.35, HKEX (00388.HK) opened 1.4% down, and AIA (01299.HK) opened descending 3.4%. Central Huijin increased its holdings in BANK OF CHINA (03988.HK), ABC (01288.HK), ICBC (01398.HK) and CCB (00939.HK), but they opened 0.6% to 1% lower along with the market. As for property stocks, CHINA OVERSEAS (00688.HK) opened falling 2.9%, while LONGFOR GROUP (00960.HK) and CHINA RES LAND (01109.HK) were more than 1% lower at open. WEICHAI POWER (02338.HK) suspended the spin-off of Weichai Lovol for listing on ChiNext, and its shares opened 1.7% lower. AAStocks Financial News |
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