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<H Shrs>HSI Ends 384 Pts Lower on Futures Settlement Day; Techs, Autos, Consumers, Pharmas Slip
Recommend 7 Positive 3 Negative 6 |
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On the index futures settlement day, the Hong Kong stock market opened higher but closed lower. The HSI closed down 384 points or 1.4% at 26,381. The HSCEI dived 220 points or 2.4% to close at 8,814. The HSTECH dropped 151 points or 2.9% to close at 5,109. The total market turnover for the day was HKD259.277 billion. A consortium led by CKI HOLDINGS (01038.HK) sold UKPN, with an enterprise value estimated at HKD176.8 billion, leading to a 4.5% spike in its stock price. CKH HOLDINGS (00001.HK) and POWER ASSETS (00006.HK) leaped 4.5% and 3.8%, respectively, while CK ASSET (01113.HK) mounted 3%. In the tech sector, Haitong International's report lowered BABA-W (09988.HK) quarterly net profit forecast, predicting weak CMR for the last quarter, causing Alibaba to slump 3.6% with a turnover topping HKD14.3 billion. BIDU-SW (09888.HK) will announce its quarterly results after the market closed, with its stock sagging 4.3%. TENCENT (00700.HK) shed 2%, whereas MEITUAN-W (03690.HK), NTES-S (09999.HK), and JD-SW (09618.HK) fell 1.9-2.7%. Travel platform TRIP.COM-S (09961.HK) logged a 95% surge in net profit last year, with its stock slipping 3.2%. Macau gaming stock GALAXY ENT (00027.HK) reported a 22% rise in annual profit, and its stock tumbled 4.3%. Its peer MELCO INT'L DEV (00200.HK) cratered 5.9%. Other consumer stocks, including CTG DUTY-FREE (01880.HK), HAIER SMARTHOME (06690.HK), POP MART (09992.HK), and MENGNIU DAIRY (02319.HK), plunged 3.3-4.1%. MNSO (09896.HK) lost 5.6%. Pharmaceuticals subsided, with WEIGAO GROUP (01066.HK), CSPC PHARMA (01093.HK), SINO BIOPHARM (01177.HK), 3 3SBIO (01530.HK), INNOVENT BIO (01801.HK), and WUXI APPTEC (02359.HK) plummeting 3.8-5%. SIMCERE PHARMA (02096.HK), WUXI XDC (02268.HK), WUXI BIO (02269.HK), and BEONE MEDICINES (06160.HK) nosedived 7.4-9.2%. AASTOCKS Financial News Website: www.aastocks.com |
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