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<H Shrs>HSI Hikes 425 pts at Close, Amid Speculations on High Div. Stocks; CN Homebuilders Soar
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Hong Kong stocks advanced, led by high dividend-paying stocks. HSI hiked 425 points or 2.3% to close at 18,963. HSCEI ascended 158 points, or 2.4%, to close at 6,718. HSTECH added 14 points or 0.4% to close at 3,962. The total turnover for the day was $171.001 billion, the highest in more than 9 months. HKEX (00388.HK) surged 7.6% to $285.8 on hopes that China may launch measures to support Hong Kong stocks. High dividend-paying stocks were sought after. Chinese bank stocks PSBC (01658.HK) and CCB (00939.HK) hiked more than 6%, while ABC (01288.HK), ICBC (01398.HK) and CM BANK (03968.HK) lifted 4.1% to 5.1%. BOC HONG KONG (02388.HK) escalated 4.4%. Mainland insurers PING AN (02318.HK), CHINA LIFE (02628.HK), CHINA TAIPING (00966.HK) and PICC P&C (02328.HK) elevated 4.5% to 5.8%, while CPIC (02601.HK) spiked 8.1%. Telecoms stocks CHINA TELECOM (00728.HK), CHINA UNICOM (00762.HK) and CHINA MOBILE (00941.HK) gained 3.5% to 4.8%. SHENZHEN INT'L (00152.HK) and CITIC (00267.HK) rallied 7.9% and 5.9%. GUANGDONG INV (00270.HK) ascended 6.5%, while CLP HOLDINGS (00002.HK) and POWER ASSETS (00006.HK) escalated 2.3% and 3.8%. CKH HOLDINGS (00001.HK) mounted 3.9% after the UK cleared national security concerns over the 3 UK-Vodafone merger deal. Chinese property stocks continued their rally, with SEAZEN (01030.HK), SINO-OCEAN GP (03377.HK), AGILE GROUP (03383.HK) and KWG GROUP (01813.HK) skyrocketing 13.6% to 15.5%, while CIFI HOLD GP (00884.HK) and CHINA JINMAO (00817.HK) surged 11.1% and 10.3%. SUNAC (01918.HK), CHINA RES LAND (01109.HK) and YUEXIU PROPERTY (00123.HK) spiked more than 7%. R&F PROPERTIES (02777.HK), LONGFOR GROUP (00960.HK), CHINA VANKE (02202.HK) and GREENTOWN CHINA (03900.HK) mushroomed 5.4% to 6.2%. For tech stocks, BABA-SW (09988.HK) and XIAOMI-W (01810.HK) advanced 1.5% and 1.3%, as TENCENT (00700.HK), MEITUAN-W (03690.HK) and JD-SW (09618.HK) added 0.3% to 0.7%. BIDU-SW (09888.HK) and NTES-S (09999.HK) dropped 0.2% and 0.5%, while KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) waned 1.9% and 2.1%. Chip stocks SMIC (00981.HK), whose 1Q net profit cratered 69%, and HUA HONG SEMI (01347.HK), whose 1Q net profit crashed 79%, inclined 1.5% and 5.8% respectively. In other stocks, HSBC HOLDINGS (00005.HK) lifted 0.4%, while AIA (01299.HK) mounted 2.2%. Gold prices increased more than 1% on rising expectations of interest rate cuts, propelling ZIJIN MINING (02899.HK) and ZHAOJIN MINING (01818.HK) up more than 3%. AAStocks Financial News |
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