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<H Shrs>HSI Craters 580 pts at Close as CN Insurers, Brokers, Developers Slip After Midday
Recommend 6 Positive 2 Negative 7 |
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The HSI slipped 580 points or 2.8% to close at 19,846. The HSCEI waned 228 points or 3.1% to close at 7,127. The HSTECH faded 194 points or 4.2% to close at 4,456. The total market turnover for the day amounted to $234.224 billion. Chinese insurers and brokers were under pressure after midday. Chinese insurers CHINA TAIPING (00966.HK), PICC GROUP (01339.HK), CPIC (02601.HK), PING AN (02318.HK) and ZA ONLINE (06060.HK) shed over 4%, while CHINA LIFE (02628.HK) and NCI (01336.HK) cascaded over 6%. Brokers retreated along with the China stock market, with CICC (03908.HK), GF SEC (01776.HK), CGS (06881.HK), HTSC (06886.HK) and CSC (06066.HK) eroding 4.7-6.1%. Chinese developers declined after midday, with YUEXIU PROPERTY (00123.HK), CHINA RES LAND (01109.HK), CHINA JINMAO (00817.HK) and LONGFOR GROUP (00960.HK) receding 4-4.5%. CHINA VANKE (02202.HK), AGILE GROUP (03383.HK), CIFI HOLD GP (00884.HK) and KWG GROUP (01813.HK) shrank 5.6-7.3%, while R&F PROPERTIES (02777.HK) and SINO-OCEAN GP (03377.HK) tumbled 8.2% and 9.2%. In addition, ZOOMLION (01157.HK) and MAANSHAN IRON (00323.HK) descended over 4%, while CR BLDG MAT TEC (01313.HK) slumped 5.2%. AAStocks Financial News |
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