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<H Shrs>HSI Stumbles 353 Pts; MEITUAN, ZHONGSHENG Ebb; Golds Slip
Recommend 8 Positive 2 Negative 5 |
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At midday close, the HSI plunged 353 pts or 1.7% to 20,073; the HSCEI fell off 135 pts or 1.8% to 7,219; and the HSTECH lost 104 pts or 2.2% to 4,547. The total market turnover for the first half of the day was $102.332 billion. ASMPT (00522.HK), a semiconductor equipment stock, and the potential offeror ceased negotiations on privatization, and the stock price slipped 4% at midday close. Among other techs, MEITUAN-W (03690.HK) stumbled 5.2%. TENCENT (00700.HK) dipped 1.5%. XIAOMI-W (01810.HK), BIDU-SW (09888.HK), BILIBILI-W (09626.HK), BABA-W (09988.HK), JD-SW (09618.HK) and SMIC (00981.HK) cratered 2.4%-2.9%. NTES-S (09999.HK) bucked the market trend and rose 1.7%. Commodity shares came under pressure. MMG (01208.HK) and CHALCO (02600.HK) plummeted 3.4% and 4.7%. Aluminum stock CHINAHONGQIAO (01378.HK) slid 7%. As gold prices ebbed back to the brink of US$2,600, ZIJIN MINING (02899.HK) and ZHAOJIN MINING (01818.HK) collapsed 3.7% and 4.5%. As New York oil prices dropped more than 3% overnight, oil producers PETROCHINA (00857.HK) and CNOOC (00883.HK) tumbled 1.9% and 2%. The market was wary of the tariff negotiations between China and the EU on electric vehicles. Automakers XPENG-W (09868.HK) and LI AUTO-W (02015.HK) cascaded 2.4% and 3.1%. NIO-SW (09866.HK) skydived 3.9%. LEAPMOTOR (09863.HK) narrowed its quarterly net loss, but its stock price subsided 1.2% after opening 3% higher. ZHONGSHENG HLDG (00881.HK), an auto dealer, signed a preliminary agreement to distribute new energy vehicles under the Seres brand. The stock surged more than 20% yesterday before trading was suspended. It resumed trading today and gave up 5.5% at midday. AAStocks Financial News |
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