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HSI Upswing Wilder to 400 Pts Once on Heavyweight Dotcoms; TENCENT, MEITUAN-W Leap 5%
Recommend 70 Positive 148 Negative 92 |
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After opening 186 pts or 1.15% higher this morning, the HSI widened its gains in the morning session, having rocketed 413 pts to peak at 16,637. It last soared 400 pts or 2.5% to 16,624, with a turnover of $38.254 billion. Heavyweight dotcoms led the market rise. TENCENT (00700.HK) last printed at $319.2, up 5.07%, with turnover of $5.377 billion. MEITUAN-W (03690.HK), recouping the $100 mark, peaked at $101.2. It last traded at $100.4, up 5.35%, trading at $1.082 billion. JD-SW (09618.HK) and NTES-S (09999.HK) spiked 4%-4.3%. BABA-SW (09988.HK) and BIDU-SW (09888.HK) swelled 2%-2.9%. Hong Kong's heavyweight financials boomed, with HSBC HOLDINGS (00005.HK), BOC HONG KONG (02388.HK) and AIA (01299.HK) rising 1.3%-2.3%. HKEX (00388.HK) mounted 3.2%. The other two big blue-chip Chinese insurers, namely PING AN (02318.HK) and CHINA LIFE (02628.HK), shot up 4% and 4.8% respectively. LI AUTO-W (02015.HK) lost 3.7% to $102.3, with turnover of $1.012 billion. After Tesla (TSLA.US) reduced its prices in the US and China, LI AUTO-W did the same, with price cuts on 2024 models of Li L7, Li L8, Li L9 and Li MEGA. The L7 series’ were reduced by RMB18,000-20,000, while the MEGA’s was trimmed by RMB30,000 from RMB559,800 to RMB529,800. Peer BYD COMPANY (01211.HK) added 0.5% on a steady basis. AAStocks Financial News |
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