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HK Stocks Once Slump Over 500 pts on Month-End Settlement; MEITUAN-W (03690.HK) Hits 2-Yr Low; SMIC (00981.HK), HUA HONG SEMI (01347.HK) Buck Trend; KNOWLEDGE ATLAS (02513.HK) +7% at Record High
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China A-shares were softer near midday close, with the Shanghai Composite Index and Shenzhen Component Index each down about 0.2% and 0.3%. On month-end settlement day, the HSI extended losses from the past two trading days. It opened down 97 pts or 0.4% this morning (28th), with losses widening in early trading, falling below the 25,000 mark. The index once dropped 526 pts to a low of 24,802, marking a near two-month low since March 31. It last stood at 24,848, down 479 pts or 1.9%, with turnover of HKD176.059 billion. MEITUAN-W (03690.HK) fell to an intraday low of HKD72.5, a more than two-year low. It last traded at HKD73.05, down 6%, the worst performer among blue chips, with turnover of HKD3.926 billion. Resource stocks ZIJIN MINING (02899.HK) and CMOC (03993.HK) each dropped over 5%. WUXI BIO (02269.HK) and WUXI APPTEC (02359.HK) each fell more than 3%. POP MART (09992.HK), which recently saw heavy stake increases by Duan Yongping, rose over 3%. Heavyweight tech stocks XIAOMI-W (01810.HK), JD-SW (09618.HK), TENCENT (00700.HK) and BABA-W (09988.HK) each declined more than 2%. Local property stocks SHK PPT (00016.HK), CK ASSET (01113.HK) and WHARF REIC (01997.HK) also each fell over 2%. Among mainland developers, CHINA OVERSEAS (00688.HK) and CHINA RES LAND (01109.HK) dropped more than 2%, while LONGFOR GROUP (00960.HK) and CHINA RES MIXC (01209.HK) slid over 3%. Changxin Technologys STAR Market IPO was approved by the listing committee. It plans to issue no more than 10.622 billion shares to raise RMB29.5 billion, set to become the largest A-share IPO this year and the second-largest IPO in STAR Market history after SMIC (688981.SH). H-shares of SMIC (00981.HK) and HUA HONG SEMI (01347.HK) continued to buck the trend, rising 3.3% and 11.4% respectively. Big data and AI large-model stocks showed mixed performance. KNOWLEDGE ATLAS (02513.HK) rose 7.37% against the market to HKD1,530, hitting a record high, with turnover of HKD898 million. MINIMAX-W (00100.HK) and XUNCE (03317.HK) were softer. (da/u) 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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