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<H Shrs>HSI Lifts 22 Pts at Midday as HSBC HOLDINGS/ STANCHART Boom; Chip & Commodities Stocks Feeble
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Hong Kong stocks fluctuated in the morning session. The HSI added 22 points or 0.1% to 25,563 at midday. The HSCEI slid 11 points or 0.1% to 8,942. The HSTECH dropped 36 points or 0.7% to 5,544. Total half-day turnover of the market amounted to $95.355 billion. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) sagged 2.5%. ZTE (00763.HK), a telecommunications equipment stock that is said to pay over US$1 billion to the US to settle overseas bribery allegations, descended 9.4%. Wire and cable stock YOFC (06869.HK) jumped up 2.7% at midday, with a turnover exceeding $1.8 billion. For carmakers, XIAOMI-W (01810.HK) ticked up 0.8%, while BYD COMPANY (01211.HK) shed 0.5%. Battery stock CATL (03750.HK) ballooned 2.3%, while smart driving chipmaker HORIZONROBOT-W (09660.HK) cascaded 2.9%. For financials, HSBC HOLDINGS (00005.HK) and STANCHART (02888.HK) ascended 2% and 1.9%, while HKEX (00388.HK) and AIA (01299.HK) slipped 0.1%. Hong Kong homebuilders HENDERSON LAND (00012.HK) and SINO LAND (00083.HK) elevated 2% and 1.5%, while NEW WORLD DEV (00017.HK) waned 1.7%. Commodities stocks failed to benefit from the rate cut. Gold miner ZHAOJIN MINING (01818.HK) lost 1.3%, while CHINAGOLDINTL (02099.HK) and LINGBAO GOLD (03330.HK) slumped 2.8% and 4%. AAStocks Financial News Website: www.aastocks.com |
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