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<H Shrs>HSI Leaps 56 Pts at Midday as Lithium/ Resource Stocks Surge; LI NING Mounts 4%+
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The HSI inched up 56 points or 0.2% to 25,291 at midday. The HSCEI lifted 23 points or 0.3% to 8,781. The HSTECH added 1 point to 5,403. Total half-day turnover of the market amounted to $84.882 billion. Following the election of a right-wing hardliner as Chile's president, market concerns over lithium ore supply drove gains in lithium stocks. GANFENGLITHIUM (01772.HK) and TIANQI LITHIUM (09696.HK) elevated 5.6% and 6.9%, while battery stock CATL (03750.HK) picked up 0.5%. For automakers, XIAOMI-W (01810.HK) and BYD COMPANY (01211.HK) faded 0.6% and 1.1%, while XPENG-W (09868.HK) dropped 1.9%. For autonomous driving concept stocks, PONY-W (02026.HK) advanced 5.5%, while HESAI-W (02525.HK) and WERIDE-W (00800.HK) mounted 3.2% and 3%. Sportswear stock LI NING (02331.HK) leaped 4.4% at midday as Daiwa noted the launch of Olympic product series and a new store image, anticipating a rapid rise in brand awareness. Three major Chinese airlines, naming CHINA SOUTH AIR (01055.HK), CHINA EAST AIR (00670.HK) and AIR CHINA (00753.HK), jumped up 5.6% and 7.2%, while duty-free store operator CTG DUTY-FREE (01880.HK) waned 3.1%. Luggage maker SAMSONITE (01910.HK) ballooned 3.8%. Silver prices broke ceiling during Asian trading hours, with CHI SILVER GP (00815.HK) mushrooming 7.4%. ZIJIN MINING (02899.HK) gained 1.8%. Resource stocks prospered, with JIANGXI COPPER (00358.HK) and MMG (01208.HK) climbing 3.6% and 3.2%. CMOC (03993.HK) and CHALCO (02600.HK) shot up over 2%. AAStocks Financial News Website: www.aastocks.com |
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