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<H Shrs>HSI Opens Declining 139 pts, with Techs Under Pressure; SHENZHOU INTL Slumps 3%
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Hong Kong stocks opened softly this morning. HSI opened falling 139 points or 0.9% at 16,246, HSCEI opened dropping 58 points or 1% at 5,745, and HSTECH opened declining 48 points or 1.4% at 3,308. Techs were under pressure, with TENCENT (00700.HK) opening 0.3% lower. BABA-SW (09988.HK) reduced its holdings in CLOUD MUSIC (09899.HK) by 2.2 million shares over the counter, cashing out HK$192 million. BABA slid 1.5% at open, while CLOUD MUSIC opened flat. BIDU-SW (09888.HK), BILIBILI-W (09626.HK), KUAISHOU-W (01024.HK), MEITUAN-W (03690.HK) and LENOVO GROUP (00992.HK) opened waning 0.5% to 2.9%. JD-SW (09618.HK) was 0.9% lower at open after the group announced that it had repurchased a total of US$1.2 billion of shares in 1Q24, leaving a US$2.5 billion program balance. XIAOMI-W (01810.HK) opened 1.6% lower after Lei Jun said sales of Xiaomi's SU7 were 3x-5x higher than expected. For auto stocks, LI AUTO-W (02015.HK) opened descending 2.3%, XPENG-W (09868.HK) opened diving 4.5%, GEELY AUTO (00175.HK) opened dropping 0.9%, and BYD COMPANY (01211.HK) opened lowering 0.4%. NIO-SW (09866.HK) meanwhile opened 0.3% higher. In financials, HSBC HOLDINGS (00005.HK) opened dropping 1.1%, as it scheduled a board meeting at the end of April to consider the payment of a first interim dividend for 2024 and a special dividend. HKEX (00388.HK) opened 1.6% lower, while AIA (01299.HK) opened 0.1% higher. SHENZHOU INTL (02313.HK) opened retreating 3.2%, the worst-performing blue chip, while OOIL (00316.HK) opened advancing 2%, the best-performing blue chip. In addition, WEIMOB INC (02013.HK) opened crashing 11.8% after placing shares at a discount of nearly 17%, raising a net of HK$308 million. SHIN HWA WORLD (00582.HK) opened cratering about 18%. The company resumed trading this morning after announcing a share merger followed by a 1-for-2 rights issue, raising HK$260 million. AAStocks Financial News |
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