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<H Shrs>HSI Closes Down 176 pts as WEIMOB INC Sinks 40%; SUNAC Dips 25%+
Recommend 4 Positive 2 Negative 7 |
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The HSI slid 176 points or 0.9% to close at 19,064. The HSCEI dropped 80 points or 1.2% to close at 6,898. The HSTECH lost 50 points or 1.2% to close at 4,260. The total market turnover for the day amounted to $144.698 billion. The WeChat HarmonyOS Native Edition has been officially launched. TENCENT (00700.HK) ebbed 1% along with the market. TENCENT cut its stake in WEIMOB INC (02013.HK) to cash out over $410 million, and sold UBTECH ROBOTICS (09880.HK) for about $1.034 billion. WEIMOB INC collapsed 40.9%, while UBTECH ROBOTICS plunged 10.1%. Taobao and Tmall intended to establish an account integrity system and optimize the “Tuihuobao” mechanism. BABA-W (09988.HK) waned 1.2%. Goldman Sachs has raised its target price for NTES-S (09999.HK), lifting the company's share price by 1.4%. As the speculation in external chip stocks continued, SMIC (00981.HK) climbed 2.9%. SUNAC (01918.HK) drifted 25.7% lower as it received a winding up petition issued by China Cinda. Other Chinese developers were also under pressure, with CHINA VANKE (02202.HK) and SINO-OCEAN GP (03377.HK) cascading 4.7% and 6.2%. CIFI HOLD GP (00884.HK) descended 7.2%, while R&F PROPERTIES (02777.HK), KWG GROUP (01813.HK), SHIMAO GROUP (00813.HK) and AGILE GROUP (03383.HK) eroded 8.6-9.4%. Chinese insurers PING AN (02318.HK), CPIC (02601.HK) and CHINA LIFE (02628.HK) also stumbled 4-4.4%. AAStocks Financial News |
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