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<H Shrs>HSI Closes Up 407 Pts, Led by Tourism-related Stocks; CTG DUTY-FREE Soars 15%
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Hong Kong stocks prospered. The HSI climbed 407 points or 1.6% to close at 26,649. The HSCEI gained 175 points or 1.9% to close at 9,443. The HSTECH jumped up 78 points or 1.3% to finish at 5,915. Total market turnover for the day amounted to $214.788 billion. Foreign media reported that US memory chip maker SanDisk raised flash memory (NAND) prices by up to 50%, resulting in a spike in Nasdaq 100 futures. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) tossed, and slipped 1% and 1.7% at close respectively. For other techs, BABA-W (09988.HK), TENCENT (00700.HK) and KUAISHOU-W (01024.HK) leaped 2.1-2.4%, while MEITUAN-W (03690.HK) and BIDU-SW (09888.HK) added over 1%. XIAOMI-W (01810.HK), JD-SW (09618.HK) and NTES-S (09999.HK) ticked up 0.3-0.4%, while BILIBILI-W (09626.HK) dropped 0.3%. Same series NETEASE MUSIC (09899.HK) sagged 4.5%. During the first week of the new duty-free policy implementation on Hainan Island, duty-free shopping on Hainan Island spiked 35% YoY to RMB506 million. Tourism-related stocks led the gains, with CTG DUTY-FREE (01880.HK) soaring 15.3%. SAMSONITE (01910.HK) and TONGCHENGTRAVEL (00780.HK) elevated 7.2% and 6.9%, while AIR CHINA (00753.HK), CHINA EAST AIR (00670.HK) and CHINA SOUTH AIR (01055.HK) advanced 4.6-5%. Luxury goods stock PRADA (01913.HK) ballooned 4.3%. Other Hong Kong and Chinese consumers also ascended broadly, with DAMAI ENT (01060.HK) and POP MART (09992.HK) rallying over 8%. HAIDILAO (06862.HK), YIHAI INTL (01579.HK), CHINA RES BEER (00291.HK), MENGNIU DAIRY (02319.HK), MNSO (09896.HK) and HISENSE HA (00921.HK) mounted 3.8-4.9%. Casinos GALAXY ENT (00027.HK), SANDS CHINA LTD (01928.HK), SJM HOLDINGS (00880.HK) and MELCO INT'L DEV (00200.HK) mushroomed over 3%. AASTOCKS Financial News Website: www.aastocks.com |
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