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<H Shrs>HSI Fades 160 Pts at Midday; Alibaba, Xiaomi Squeezed; Geely, Li Ning Rally
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Israel claims to have hit brake on attacking Iranian energy facilities, causing oil prices to retreat from their peaks. Hong Kong bourse waned, dented by BABA-W (09988.HK) and XIAOMI-W (01810.HK). The HSI ended the morning session down 160 points or 0.6% at 25,340. The HSCEI lost 82 points or 0.9% to 8,613. The HSTECH dropped 84 points or 1.7% to 4,911. The total market turnover for the morning session was HKD154.196 billion. BABA-W (09988.HK) charted a 67% slump in non-GAAP net profit for 3FQ, way worse than forecast, with its stock price down 5.8%. XIAOMI-W (01810.HK) announced the launch of the new generation SU7, priced RMB4,000 higher than the previous model, but reduced the previously announced pre-sale price by RMB6,000 to RMB10,000, and declared an investment of over RMB60 billion in AI over the next three years. XIAOMI-W stock price hence dived 6.9% to HKD33.8. Among autos, GEELY AUTO (00175.HK) surged 7% to HKD19.62. LI AUTO-W (02015.HK) and BYD COMPANY (01211.HK) mounted 3% and 1.8%, respectively. NIO-SW (09866.HK) stated that over 550,000 self-developed chips were churned out, with the stock down 0.2% along with the market. XPENG-W (09868.HK) and CHERY AUTO (09973.HK) plunged 3.4% and 2.7%, while GWMOTOR (02333.HK) spiked 2.5%. CKH HOLDINGS (00001.HK) reported a 7% YoY hike in underlying profit last year, with the final DPS added to HKD1.602, and the stock rose 1%. CK ASSET (01113.HK) marked a 21% drop in full-year net profit, with a final DPS of HKD1.39, and the stock sank 1.5%. LI NING (02331.HK) logged a 3% decline in net profit last year, beating street consensus, with the stock leaping 10.7% to HKD21.85. CHINA UNICOM (00762.HK) reported a 1% rise in full-year net profit, with the final DPS reduced to RMB13.29 cents, and the stock slid 3.8% to HKD7.25. AASTOCKS Financial News Website: www.aastocks.com |
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