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<H Shrs>HSI Drops 232 Pts at Midday; XIAOMI-W Ebbs 4%+; Some Pharmas in Demand
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The HSI settled the midday down 232 points or 1% at 23,989. The HSCEI fell 108 points or 1.2% to 8,616. The HSTECH dropped 63 points or 1.2% to 5,205. The total market turnover for the half-day amounted to HKD130.584 billion. XIAOMI-W (01810.HK) stated its auto unit will focus on domestic deliveries before considering exports in 2027, sending its stock price tumbling 4.4% to HKD57.5. XPENG-W (09868.HK) rose 1%. It delivered 34,600 vehicles last month, marking a 2.24-fold increase. LEAPMOTOR (09863.HK) and GWMOTOR (02333.HK) ballooned 3.5% and 2.1%, respectively. BYD COMPANY (01211.HK) inched up 0.7% to HKD123.1. Battery stock CATL (03750.HK) added 1.9%. Lithium stock GANFENGLITHIUM (01772.HK) mushroomed 5.9%. In the tech sector, South Africa's Naspers, bearish on MEITUAN-W (03690.HK)'s international expansion, is considering reducing its stake in the company. MEITUAN-W slipped 2.5%. BABA-W (09988.HK) eroded 3.6% to HKD105.5. TENCENT (00700.HK) and SMIC (00981.HK) edged down 0.5% and 0.2%, respectively. KUAISHOU-W (01024.HK), JD-SW (09618.HK), and BILIBILI-W (09626.HK) slid 1.4-1.8%. In addition, XD INC (02400.HK), ALI HEALTH (00241.HK), and NEW ORIENTAL-S (09901.HK) cratered 3.4-3.8%, KINGSOFT (03888.HK) dived 7.6%. GDS-SW (09698.HK) spiked 6.4%. Among pharmas, AKESO (09926.HK) has completed enrollment of the first participant in a Phase Ia clinical trial of its first-in-class bispecific antibody ADC drug for the treatment of advanced solid tumors, lifting its stock price by 11.3%. INNOVENT BIO (01801.HK) had its target price raised by Citi and CICC. Its stock price soared 6.5%. REMEGEN (09995.HK) also leaped 5.1%, BEIGENE (06160.HK) and INNOCARE (09969.HK) shot up over 3%. SINO BIOPHARM (01177.HK) gained 2.6%. AAStocks Financial News |
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