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<H Shrs>HSI Dips 69 pts as CN Developers, Consumers Lose; XIAOMI Mounts 6%+
Recommend 125 Positive 211 Negative 137 |
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The HSI slid 69 points or 0.4% to 18,410 at midday. The HSCEI dropped 27 points or 0.4% to 6,499. The HSTECH ebbed 24 points or 0.6% to 3,897. The total half-day turnover of the market amounted to $67.191 billion. The sales volume of China's top 100 real estate companies fell 13% MoM in April. Chinese developers took the lead to decline. KWG GROUP (01813.HK) tumbled 9.9%, while LONGFOR GROUP (00960.HK), SINO-OCEAN GP (03377.HK) and AGILE GROUP (03383.HK) plunged over 8%. SUNAC (01918.HK) and CIFI HOLD GP (00884.HK) descended 7.6% and 7%, while GREENTOWN CHINA (03900.HK) and YUEXIU PROPERTY (00123.HK) receded over 5%. CHINA VANKE (02202.HK) faded 4.8%, while property managers CG SERVICES (06098.HK) and CHINA OVS PPT (02669.HK) cascaded 4% and 5.2%. Hong Kong and Chinese consumers retreated. BUD APAC (01876.HK)'s 1Q24 net profit decreased over 3%, and its share price cratered 4.4%. TONGCHENGTRAVEL (00780.HK), MAOYAN ENT (01896.HK) and CTG DUTY-FREE (01880.HK) shed 3.9-4.5%, while MENGNIU DAIRY (02319.HK) and VITASOY INT'L (00345.HK) also slipped over 3%. For autos, LI AUTO-W (02015.HK) and XPENG-W (09868.HK) waned 4% and 4.1%, while BYD COMPANY (01211.HK) also slipped 1.2%, amid Chinese media reports saying that China supports Tesla (TSLA.US)'s driverless taxi testing. XIAOMI-W (01810.HK) leaped 6.1% to $19.04 after its SU7 MAX is reported to deliver ahead of schedule. AAStocks Financial News |
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