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<H Shrs>HSI Wanes 291 Pts at Midday; CN Developers/ Infra/ Brokers/ Shippers Falter
Recommend 144 Positive 258 Negative 113 |
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After a slump of over 2,100 points yesterday (8th), the Hong Kong stock market wobbled this morning. The HSI opened 363 points higher, once rising 490 points to peak at 21,417. It then dropped 736 points to as low as 20,190, eventually ending the midday down 291 points, or 1.4%, at 20,635, with a high-low fluctuation of 1,227 points recorded this morning. The HSCEI lost 110 points, or 1.5%, to 7,373. The HSTECH slipped 40 points, or 0.9%, to 4,655. The total half-day turnover for the market amounted to $241.815 billion. Chinese developers retreated. CHINA RES LAND (01109.HK), SUNAC (01918.HK), CHINA OVERSEAS (00688.HK), LONGFOR GROUP (00960.HK), and SEAZEN (01030.HK) dived over 5%. CHINA JINMAO (00817.HK), CHINA VANKE (02202.HK), and YUEXIU PROPERTY (00123.HK) shed 6.7-7.2%. Building materials stocks CONCH CEMENT (00914.HK) and BBMG (02009.HK) plunged 8.3%. Steel stock MAANSHAN IRON (00323.HK) and heavy machinery stock ZOOMLION (01157.HK) plummeted 7.6% and 8.1%. Railway stocks CHINA RAIL CONS (01186.HK), CHINA COMM CONS (01800.HK), CHINA RAILWAY (00390.HK), and CRRC (01766.HK) waned 5.9-7%. As mainland China's stock markets ebbed, brokers CSC (06066.HK), GF SEC (01776.HK), and HTSC (06886.HK) cascaded 9-10%, while CGS (06881.HK) tumbled 7%. Chinese insurers CHINA LIFE (02628.HK), PING AN (02318.HK), PICC GROUP (01339.HK), and CPIC (02601.HK) fell 3.6-4.6%, while PICC P&C (02328.HK) and ZA ONLINE (06060.HK) faded over 5%. As for techs, MEITUAN-W (03690.HK) rose 2.5% against the market. TENCENT (00700.HK), XIAOMI-W (01810.HK), and JD-SW (09618.HK) edged down less than 1%. NTES-S (09999.HK), BIDU-SW (09888.HK), BABA-W (09988.HK), and BILIBILI-W (09626.HK) slid 1.4-2.3%, while KUAISHOU-W (01024.HK) descended 3.4%. In addition, EAST BUY (01797.HK), ALI HEALTH (00241.HK), and WEIMOB INC (02013.HK) plunged 6.5-7.7%, while MEITU (01357.HK) sank 9%. Reports suggest Israel and Lebanon are negotiating a ceasefire. Shipping stocks OOIL (00316.HK) ebbed 5.2%, while PACIFIC BASIN (02343.HK) and COSCO SHIP HOLD (01919.HK) lost 5.9% and 6.8%. The three major Chinese oils SINOPEC CORP (00386.HK), CNOOC (00883.HK), and PETROCHINA (00857.HK) waned 3.5-4.4%. AAStocks Financial News |
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