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<H Shrs>HSI Closes Plunging 289 Pts; Building Materials/ Infra/ Brokers/ Pharmas Tumble; MEITUAN-W, XPENG-W Rally Against Mkt
Recommend 86 Positive 168 Negative 92 |
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After a volatile session following a slump of over 2,100 points yesterday (8th), the Hong Kong market saw significant fluctuations today. The HSI opened 363 points higher, once rising 490 points to peak at 21,417. It then plummeted 736 points to as low as 20,190 at one point. Although news of a press conference by the State Council Information Office on stronger fiscal policy boosted the market temporarily after midday, the HSI still closed the day down 289 points, or 1.4%, at 20,637, with a high/ low fluctuation of 1,227 points recorded. The HSCEI dropped 118 points, or 1.6%, to close at 7,365. The HSTECH sagged 55 points or 1.2%, closing at 4,640. The total market turnover for the day amounted to $427.014 billion. Building materials and heavy machinery stocks tumbled. ANGANG STEEL (00347.HK), CNBM (03323.HK), MAANSHAN IRON (00323.HK), ZOOMLION (01157.HK), and BBMG (02009.HK) descended 8-11%. Railway stocks CHINA COMM CONS (01800.HK), CHINA RAIL CONS (01186.HK), TIMES ELECTRIC (03898.HK), CHINA CRSC (03969.HK), CRRC (01766.HK), and CHINA RAILWAY (00390.HK) slid 5.5-6.7%. In the new energy sector, XINYI SOLAR (00968.HK) and XINYI GLASS (00868.HK) dived over 5%. GOLDWIND (02208.HK) tumbled 6.4%. GCL TECH (03800.HK), XINTE ENERGY (01799.HK), and FLAT GLASS (06865.HK) plunged 8-11%. Utility stock GUANGDONG INV (00270.HK) plummeted 7.7%. Lithium stocks GANFENGLITHIUM (01772.HK) and TIANQI LITHIUM (09696.HK) sank over 7%. As mainland China's stock markets retreated, brokers CICC (03908.HK), CSC (06066.HK), GF SEC (01776.HK), HTSC (06886.HK), and CGS (06881.HK) cascaded 9-13%. Chinese insurers PING AN (02318.HK) and PICC GROUP (01339.HK) shed 4% and 4.2%. PICC P&C (02328.HK) and ZA ONLINE (06060.HK) descended over 5%. Chinese developers ebbed. YUEXIU PROPERTY (00123.HK), SEAZEN (01030.HK), and SINO-OCEAN GP (03377.HK) slumped over 5%. CHINA JINMAO (00817.HK) and CHINA VANKE (02202.HK) waned 7.6% and 8.5%. Pharma stocks also saw notable declines. WUXI BIO (02269.HK), BAIYUNSHAN PH (00874.HK), FOSUN PHARMA (02196.HK), GENSCRIPT BIO (01548.HK), and WEIGAO GROUP (01066.HK) dropped 5-6.8%. CANSINOBIO (06185.HK) and PHARMARON (03759.HK) lost 8.1% and 11.5%. Regarding techs, MEITUAN-W (03690.HK) rallied 2.3% against the trend. TENCENT (00700.HK), JD-SW (09618.HK), BIDU-SW (09888.HK), and BILIBILI-W (09626.HK) edged down 0.8-1%. BABA-W (09988.HK), XIAOMI-W (01810.HK), and NTES-S (09999.HK) slipped 1.5-1.8%. KUAISHOU-W (01024.HK) faded 3.4%. In addition, EAST BUY (01797.HK), ALI HEALTH (00241.HK), and WEIMOB INC (02013.HK) dived 7.1-9.6%, while MEITU (01357.HK) plunged 10.9%. Car stocks GWMOTOR (02333.HK) and LEAPMOTOR (09863.HK) waned 4.1% and 5.1%, while XPENG-W (09868.HK) hiked 4%. As for the three major Chinese oils, CNOOC (00883.HK) plummeted over 5%, while SINOPEC CORP (00386.HK) and PETROCHINA (00857.HK) dropped over 3%. AAStocks Financial News |
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