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<H Shrs>HSI Rockets 461 Pts at Midday; Autos, Handsets, CN Financials Swell; NEW ORIENTAL-S Up 9%+
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The HSI settled the midday up 461 points or 2% at 24,150. The HSCEI rose 165 points or 1.9% to 8,762. The HSTECH climbed 118 points or 2.3% to 5,305. The total half-day turnover for the market amounted to HKD131.883 billion. With XIAOMI-W (01810.HK)'s launch of the YU7 in the market's spotlight, auto stocks were booming. XIAOMI-W escalated 3.7% to HKD56.9, with a turnover of over HKD8.5 billion, topping the Hong Kong stock turnover list. LEAPMOTOR (09863.HK) and LI AUTO-W (02015.HK) soared 5.7% and 4.7%. XPENG-W (09868.HK) and BYD COMPANY (01211.HK) inclined 4.5% and 3.5%. Battery stock CATL (03750.HK) hiked 2.4%. MEITUAN-W (03690.HK) inched up 0.8%. Its Meituan Select is undergoing strategic transformation and upgrade. Among other tech stocks, TENCENT (00700.HK) and SMIC (00981.HK) edged up 0.8% and 1.1%. JD-SW (09618.HK) and BIDU-SW (09888.HK) gained 1.4%. BABA-W (09988.HK), NTES-S (09999.HK), KUAISHOU-W (01024.HK), and BILIBILI-W (09626.HK) added 1.8-2.7%. In addition, NEW ORIENTAL-S (09901.HK) and MEITU (01357.HK) skyrocketed 9.3% and 5.1%. Goldman Sachs was optimistic about the visibility for NEW ORIENTAL-S' short-term profit margin improvement and potential upside in its shareholder return policies (such as regular dividend policies), which could lead to a multiple rebound after a valuation downside over the past year. HORIZONROBOT-W (09660.HK), KINGSOFT CLOUD (03896.HK), FIT HON TENG (06088.HK), COWELL (01415.HK), Q TECH (01478.HK), and SUNNY OPTICAL (02382.HK) each mushroomed over 4%. Chinese financial stocks were on an uptrend. Chinese insurer CHINA TAIPING (00966.HK) swelled 4.8%. PICC GROUP (01339.HK) and PING AN (02318.HK) also advanced 3.8% and 3.4%. Broker CGS (06881.HK) spiked 7.3%, while CICC (03908.HK) and CSC (06066.HK) ballooned over 5%. Chinese banks BANKCOMM (03328.HK) and CCB (00939.HK) ticked up 2.3%. AAStocks Financial News |
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