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<H Shrs>HSI Slips 293 Pts at Midday; CN Insurers Subdued; BYD Breaks Peak Continuously
Recommend 148 Positive 286 Negative 139 |
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The HSI slumped 293 points, or 1.2%, in the morning session, closing at 24,477. The HSCEI dropped 108 points, or 1.2%, to 9,055. The HSTECH declined 101 points, or 1.7%, to 5,939. Total morning turnover reached HKD157.508 billion. TENCENT (00700.HK) reported better-than-expected quarterly results but saw its stock slide 2.6% in the morning. Baidu addressed the "doxxing" incident, stating that no employees or executives have access to user data, yet its stock tumbled 4.1%. KINGSOFT CLOUD (03896.HK) narrowed its full-year loss to RMB1.967 billion, with its stock leaping 3.1%. KINGSOFT (03888.HK) saw FY2024 net profit soar 2.2 times and declared a final DPS of HKD0.15, but its stock shed 4.3%. Among other techs, XIAOMI-W (01810.HK) dropped 0.4% to HKD57.95. NTES-S (09999.HK) fell 1.2%. BILIBILI-W (09626.HK), KUAISHOU-W (01024.HK) and BABA-W (09988.HK) declined between 1.7% and 2.3%. MEITUAN-W (03690.HK) and JD-SW (09618.HK) slid 3.5% and 4.1%, respectively. In the auto sector, BYD COMPANY (01211.HK) rose 1.6% to HKD423.6, hitting an intraday high of HKD426.6. LEAPMOTOR (09863.HK) and GWMOTOR (02333.HK) rallied 6.4% and 5.3%, respectively. DONGFENG GROUP (00489.HK) swelled 9%. NIO-SW (09866.HK) sagged 2.3%. Sports apparel stocks waned, with XTEP INT'L (01368.HK), ANTA SPORTS (02020.HK), LI NING (02331.HK) and TOPSPORTS (06110.HK) ebbing between 3.6% and 4.3%. PING AN (02318.HK) saw a decline in its contract service margin last year, raising market concerns about future dividends and profitability, with its stock down 4.3% in the morning. Other mainland insurers faced pressure, with CHINA LIFE (02628.HK), PICC GROUP (01339.HK), CHINA TAIPING (00966.HK), and CPIC (02601.HK) dropping between 4% and 4.4%. ZA ONLINE (06060.HK) reported an over 85% YoY drop in FY2024 net profit, with its stock falling 4.6%. AAStocks Financial News |
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