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<H Shrs>HSI Drops 272 Pts at Midday; BABA-W Falls 4%; Chips Rally Against Trend
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The HSI concluded the midday down 272 points or 1% at 26,438. The HSCEI fell 103 points or 1.1% to 9,140. The HSTECH dropped 96 points or 1.6% to 5,729. The total market turnover at midday amounted to HKD148.571 billion. In the technology sector, BABA-W (09988.HK) slipped 4% to HKD144.7 after being downgraded to Hold by a US broker. TENCENT (00700.HK), MEITUAN-W (03690.HK), and NTES-S (09999.HK) slid 2-2.2%. KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) eroded 2.8% and 3.5%. JD-SW (09618.HK) faded 1.5%. In addition, TME-SW (01698.HK) and NETEASE MUSIC (09899.HK) plunged 6% and 6.1%. EAST BUY (01797.HK), CHINA LIT (00772.HK), and KINGSOFT CLOUD (03896.HK) retreated over 3%. Chip stocks rallied against the trend. SMIC (00981.HK) and BIDU-SW (09888.HK), a developer behind Kunlunxin, edged up 0.5%. HUA HONG SEMI (01347.HK) and BIREN TECH (06082.HK) leaped 3.6% and 4.8%. XIAOMI-W (01810.HK) ebbed 1.3% following the market's playbook. Lei Jun has revealed that the new-generation SU7 series will come standard with laser radars, and its launch is expected for April. Automotive laser radar provider HESAI-W (02525.HK) surged 5.1%. LEAPMOTOR (09863.HK) waned 2.5%. BYD COMPANY (01211.HK) and NIO-SW (09866.HK) fell 3.4% and 3.5%. XPENG-W (09868.HK) dropped 2.9%. AAStocks Financial News |
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