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<H Shrs>HSI Opens Down 163 Pts; BABA-W Slumps 6%+; LI NING Surges ~8% on Forecast-Beating Results
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The HSI opened 163 points or 0.6% lower at 25,337. The HSCEI dropped 71 points or 0.8% to 8,624. The HSTECH fell 48 points or nearly 1% to 4,948. BABA-W (09988.HK) opened down 6.4% at HKD123.5. Its 3FQ non-GAAP net profit sank 67%, far below expectations. XIAOMI-W (01810.HK) also ebbed 2.3% to HKD35.5, despite the launch of the new-generation Xiaomi SU7, the beginning of the closed testing of China's first "OpenClaw lobster" for mobile devices, and the announcement about an AI investment of more than RMB60 billion within three years. DELTON (01989.HK) opened at HKD95.05 on its debut, 32.2% higher than its listing price of HKD71.88. The Shenzhen Stock Exchange (SZSE) announced the addition of this stock to the Southbound Stock Connect list, effective today. LI NING (02331.HK) opened rallying 7.8% at HKD21.3. Its 2025 net profit receded 3%, but it still beat market expectations. CHINA UNICOM (00762.HK) edged down 0.5% to HKD7.5. It reported a 1% increase in annual net profit, but the final dividend decreased to RMB13.29 cents. MGM CHINA (02282.HK) remained flat at HKD12.01. Its annual net profit rose 10%, with the final dividend raised to HKD35.3 cents. Among tech stocks, TENCENT (00700.HK) opened 1.6% lower at HKD505. MEITUAN-W (03690.HK) gained 1.1% to HKD81.55. KUAISHOU-W (01024.HK) inched 0.2% lower. BIDU-SW (09888.HK) and BILIBILI-W (09626.HK) dipped 0.8% and 1.1%. NTES-S (09999.HK) and JD-SW (09618.HK) slumped 2% and 2.1%. Chip stock SMIC (00981.HK) was unchanged at HKD59.75, while its peer HUA HONG SEMI (01347.HK) added 0.8%. AAStocks Financial News |
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