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<H Shrs>HSI Sags 39Pts at Open; NIO Keeps Rallying; Techs Broadly Soft
Recommend 82 Positive 147 Negative 66 |
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The HSI opened 39 points or 0.2% lower at 24,100. The HSCEI dipped 8 points or 0.1% to 8,679. The HSTECH fell 8 points or 0.2% to 5,240. GAC GROUP (02238.HK) forecasted a 1H25 loss of RMB1.8-2.6 billion, leading to a 1.9% lower opening at HKD3.03. LEAPMOTOR (09863.HK) saw two limited partners sell 4.6 million H-shares, with its stock opening 1.9% lower at HKD56.65. As to other automakers, NIO-SW (09866.HK) jumped up 4.6% at the open, with CICC noting that NIO’s L90 pre-sales began, expecting the model to lead in the premium large three-row SUV market and anticipating product and profit improvements, with a target price of HKD41, implying 40% upside for the stock. BYD COMPANY (01211.HK) opened flat at HKD120.1. GEELY AUTO (00175.HK), LI AUTO-W (02015.HK), and XPENG-W (09868.HK) opened 0.4-0.8% lower. XIAOMI-W (01810.HK) edged up 0.3%. In tech, BABA-W (09988.HK) opened 0.7% lower, TENCENT (00700.HK) and NTES-S (09999.HK) gained 0.1%. MEITUAN-W (03690.HK) lost 0.2%. SMIC (00981.HK) and KUAISHOU-W (01024.HK) added 0.5% and 0.6%, respectively. AAStocks Financial News |
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