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<H Shrs>HSI Upswing Slows to 90 pts at Midday; BABA-W Up 5% Post-Results; Gold Miners Squeezed
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US stocks closed mixed overnight as US President Donald Trump began his visit to China, accompanied by several senior executives from technology companies. The HSI opened 448 pts higher today but saw its gains narrow, closing at 26,478 at midday, up 90 pts or 0.34%. Half-day turnover amounted to HKD181.231 billion. The HSTECH closed at 5,109, up 16 pts or 0.31%, while the HSCEI stood at 8,889, up 13 pts or 0.15%. Dotcom bellwethers jumbled. BABA-W (09988.HK) spiked 5.05% to HKD139.5 at midday after reporting quarterly results, with brokers raising their TPs. TENCENT (00700.HK) edged down 0.09% to HKD462.2. Although Citi was positive on its AI strategy execution and core earnings growth, Daiwa lowered its TP to HKD700. POP MART (09992.HK) dived 4.1% to HKD154.3 after Citi and CLSA cut their TPs. Spot gold shattered below USD4,700 as soaring US inflation dampened expectations of Fed rate cuts. ZHAOJIN MINING (01818.HK) slumped 11.54% to HKD24.98 at midday. ZIJIN MINING (02899.HK) tumbled 4.84% to HKD36.94, making it the worst-performing blue chip in the morning session. ZIJIN GOLD INTL (02259.HK) declined 3.27%, CHINAGOLDINTL (02099.HK) shed 4.52%, and LINGBAO GOLD (03330.HK) slid 6.68%. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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