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<H Shrs>HSI Gains 24 Pts at Open; BIDU-SW Soars after Earnings; XIAOMI-W Soft
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Concerns over elevated valuations in AI-related stocks weighed the DJIA down 498 points, or 1.1%. Hong Kong stocks rebounded at the open this morning, following three consecutive sessions of losses. The HSI added 24 points, or 0.1%, to 25,954. The HSCEI gained 17 points, or 0.2%, to 9,192. The HSTECH advanced 21 points, or 0.4%, to 5,666. BIDU-SW (09888.HK) opened 2.2% higher at HKD113.9 after reporting a 36% YoY drop in 3Q non-GAAP net profit that still beat consensus. XIAOMI-W (01810.HK) dived 1.9% to HKD40 at the open after its quarterly EBIT missed some broker estimates and prompted target price cuts. BABA-W (09988.HK) rose 0.8% to HKD155.8 on reports of Jack Ma’s appearance at Ant Group’s Hangzhou campus, fueling industry speculation about potential AI strategic moves. As to other techs, TENCENT (00700.HK) opened up 0.6% at HKD627.5. MEITUAN-W (03690.HK), JD-SW (09618.HK), and BILIBILI-W (09626.HK) lifted 0.1-0.2%, and NTES-S (09999.HK) grew 1.1%. KUAISHOU-W (01024.HK), scheduled to report earnings after market close, opened flat at HKD64.65. In the auto sector, GEELY AUTO (00175.HK) and XPENG-W (09868.HK) opened 1.2% and 1.8% higher, respectively. AAStocks Financial News |
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