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<H Shrs>HSI Closes Down 121 pts as Gold & Silver Stocks Fall; ZHAOJIN MINING Slumps ~10%
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Hong Kong stocks fell today. The HSI dropped 121 points or 0.7% to close at 16,600. The HSCEI slid 23 points or 0.4% to close at 5,856. The HSTECH lost 31 points or 0.9% to close at 3,442. Total market turnover for the day amounted to $95.155 billion. ZHAOJIN MINING (01818.HK) tumbled 9.6% after it placed shares at a 9.7% discount, raising over $1.7 billion. The rest of the gold and silver stocks decreased. LINGBAO GOLD (03330.HK) descended 8.7%, while CHI SILVER GP (00815.HK) and SD GOLD (01787.HK) waned 5.3% and 4.9%. Jewelry retailer CHOW TAI FOOK (01929.HK) cratered 7.9% after its quarterly retail sales grew 12% YoY, with decreasing same-store sales in China. Its peer CHOW SANG SANG (00116.HK) shed 4.1%, while CRRC (01766.HK) shot up 10.6% after it expected 1Q24 profit to rise by over 50%. Railway-related stock CHINA CRSC (03969.HK) advanced 4.2%, while infrastructure stock CHINA COMM CONS (01800.HK) escalated 5.3%. CHINA RAIL CONS (01186.HK) and CHINA RAILWAY (00390.HK) gained 3.5% and 4.8%. For financials, HSBC HOLDINGS (00005.HK) added 0.1% to $63.85, while HKEX (00388.HK) and AIA (01299.HK) slipped 1.7% and 2.8%. ABC (01288.HK), ICBC (01398.HK) and CCB (00939.HK), which received stake raise from Huijin, picked up 0.4-1%, while BANK OF CHINA (03988.HK), which also received stake raise from Huijin, narrowed its decline to 0.3%. Chinese insurers PICC P&C (02328.HK) and CPIC (02601.HK) hiked 1.8% and 3.2%, while Chinese developer AGILE GROUP (03383.HK) dipped 7.5%. AAStocks Financial News |
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