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Popular Stocks Brisk on Mkt Stalemate; POP MART Advances ~5% to Break Ceiling; MIXUE GROUP Swells 7%
Recommend 7 Positive 19 Negative 7 |
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Hong Kong stocks opened 188 points lower this morning before its losses narrowed, and once climbed 34 points. The index last slid 35 points or less than 0.2% to 23,309 after midday, with a turnover of $144.609 billion. The market is concerned about the listing of H-shares of CATL(03750.HK), a global EV battery giant, tomorrow (20 May). Hong Kong stocks had been in a stalemate today, with the focus on the recent “popular stocks”. Last Friday (16th), Blue-chips-to-be POP MART (09992.HK) opened 2.7% lower before rising, and once advanced about 5.8% to a record high of $207 during the intraday trading session. The stock last printed at $205, leaping 4.75%, with 8.7093 million shares traded, involving $1.738 billion. In addition, MIXUE GROUP (02097.HK), which was listed in early March, peaked at $512.5 during the intraday trading session, and last swelled 7.37% to $510, with 635,200 shares traded, involving $318 million. Daiwa initiated coverage on MIXUE GROUP, with rating at Outperform and a target price of $539. The broker said it has an undisputed leadership position in the chain beverage store industry, with supply chain strength and unique market positioning. AAStocks Financial News Website: www.aastocks.com |
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