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<H Shrs>HSI Rises 166 Pts at Midday; CN & HK Developers Vigorous, But Renewable Energies Falter
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The HSI concluded the midday up 166 points or 0.6% at 26,863. The HSCEI rose 55 points or 0.6% to 9,517. The HSTECH fell 24 points or 0.4% to 5,899. The total half-day turnover for the market amounted to HKD137.456 billion. XIAOMI-W (01810.HK) leaped 2.3%, as it achieved sales of over RMB29 billion during the Double 11 event. E-commerce platform JD-SW (09618.HK) gained 1.4%. AI concept stocks softened, with BABA-W (09988.HK) and BIDU-SW (09888.HK) receding 2.6%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) also slipped 1.9% and 4.5%. Chip equipment provider ASMPT (00522.HK) sank 3.3%. Telecom infrastructure-related stocks ZTE (00763.HK) and YOFC (06869.HK) lost 2.6% and 4.3%. Among other tech stocks, TENCENT (00700.HK) and NTES-S (09999.HK) added 0.8% and 0.6%. KUAISHOU-W (01024.HK), MEITUAN-W (03690.HK), and BILIBILI-W (09626.HK) edged down less than 1%. MEITU (01357.HK) eroded 4.4%. Healthcare platforms JD HEALTH (06618.HK) and PA GOODDOCTOR (01833.HK) jumped over 4%. Automotive radar system supplier HESAI-W (02525.HK) dived 11%, as its ADAS LiDAR deliveries slowed markedly QoQ last quarter. Car makers NIO-SW (09866.HK) and XPENG-W (09868.HK) also plunged 6.4% and 4.1%. BYD COMPANY (01211.HK) slid 1.2%. SERES (09927.HK), in contrast, rebounded 3.2%. R&F PROPERTIES (02777.HK) rallied 5.4%, as its RMB1.68 billion onshore bond restructuring plan received approval. As for other Chinese developers, SINO-OCEAN GP (03377.HK) rocketed 7.6%. KWG GROUP (01813.HK), CHINA RES LAND (01109.HK), AGILE GROUP (03383.HK), and CHINA OVERSEAS (00688.HK) advanced 3.5-4.6%. Expectations of US rate cuts served as a boon for Hong Kong developers. SHK PPT (00016.HK), WHARF REIC (01997.HK), and SWIREPROPERTIES (01972.HK) swelled 3-3.6%. NEW WORLD DEV (00017.HK) and HENDERSON LAND (00012.HK) ballooned over 2%. Renewable energy and related stocks pulled back. GOLDWIND (02208.HK) faltered 5.1%. XINYI SOLAR (00968.HK) and FLAT GLASS (06865.HK) tumbled 6.1% and 6.8%. XINTE ENERGY (01799.HK) and GCL TECH (03800.HK) plummeted 7.5% and 10.6%. AAStocks Financial News |
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