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<H Shrs>HSI Dives 876 Pts or 3.5% Midday; Gold, Silver, Resource Stocks Plunge; Some Autos Yet Rise
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At midday, the HSI settled at 24,400, down 876 pts or 3.5%. The HSCEI cratered 261 points or 3.1% to end at 8,312. The HSTECH dropped 151 points or 3.1% to 4,720. The total market turnover for the half-day was HKD192.375 billion. In the tech sector, TENCENT (00700.HK) dipped 1.9% to HKD498.6. BABA-W (09988.HK) and MEITUAN-W (03690.HK) shed 3.7% and 2.7%, respectively. JD-SW (09618.HK), NTES-S (09999.HK), KUAISHOU-W (01024.HK), and BIDU-SW (09888.HK) lost 3.7-5%. BILIBILI-W (09626.HK) sagged 6.4%. Gold and silver stocks were subdued, with CHINAGOLDINTL (02099.HK) and ZHAOJIN MINING (01818.HK) down 4.5% and 6.2%, respectively. SD GOLD (01787.HK) and CHI SILVER GP (00815.HK) tumbled 9.4%, and LINGBAO GOLD (03330.HK) plummeted 14.8%. ZIJIN MINING (02899.HK) reported a 62% hike in net profit last year with plans to acquire controlling power in CHIFENG GOLD (06693.HK) through acquisition of A shares and subscription of new H shares, involving nearly RMB18.3 billion. ZIJIN MINING slumped 5.4%, and CHIFENG GOLD stumbled 25%. Resource stocks JIANGXI COPPER (00358.HK), MMG (01208.HK), CHALCO (02600.HK), and CMOC (03993.HK) plunged 5.6-6.3%. CHINAHONGQIAO (01378.HK) logged a 1.2% increase in net profit last year, missing expectations, and its stock price collapsed 11.7%. In the auto sector, BYD COMPANY (01211.HK) rose 0.7% to HKD104.5, while XPENG-W (09868.HK) turned to profit in 4Q, recording an adjusted net profit of RMB505 million, with its stock adding 0.4%. LEAPMOTOR (09863.HK) and GEELY AUTO (00175.HK) jumped up 2.6% and 4.2%, respectively, while XIAOMI-W (01810.HK) and NIO-SW (09866.HK) slid 3.9% and 5.1%, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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