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<H Shrs>HSI Rallies 408 Pts; Techs, Autos, Consumers, CN Developers Boom
Recommend 68 Positive 150 Negative 40 |
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China implemented financial stimulus policies, as the People's Bank of China (PBOC) established a Securities, Funds and Insurance companies Swap Facility (SFISF) with an initial scale of RMB500 billion. Hong Kong bourse opened higher in the morning. The HSI opened 408 pts or 2% higher at 21,046. The HSCEI opened 159 pts or 2.2% higher at 7,525. The HSTECH opened 132 pts or 2.9% higher at 4,772. GTJA (02611.HK) nailed the share swap ratio for its merger with HAITONG SEC (06837.HK), raising RMB10 billion in A-share funds. GTJA opened 106% higher at $16.3, while HAITONG SEC opened 134% higher at $8.5. Techs MEITUAN-W (03690.HK), SENSETIME-W (00020.HK) and BILIBILI-W (09626.HK) surged 4.5%-4.8%. BABA-W (09988.HK) shot up 2% at $105. TENCENT (00700.HK) added 0.9% at $438. XIAOMI-W (01810.HK), JD-SW (09618.HK), BIDU-SW (09888.HK) and KUAISHOU-W (01024.HK) hiked 1.7%-2.7%. Automakers GEELY AUTO (00175.HK), BYD COMPANY (01211.HK), LI AUTO-W (02015.HK), NIO-SW (09866.HK) and XPENG-W (09868.HK) rallied 3%-4.3%. Consumer stocks TRIP.COM-S (09961.HK) and HAIER SMARTHOME (06690.HK) mounted 5.2% and 4.2%. MENGNIU DAIRY (02319.HK), J&T EXPRESS-W (01519.HK) and CHINA RES BEER (00291.HK) soared 3.4%-3.7%. Among other financials, HSBC HOLDINGS (00005.HK) inched up 0.1% at $67.9. HKEX (00388.HK) and AIA (01299.HK) gained 2.5% and 3.5%. Chinese insurers PING AN (02318.HK), CHINA LIFE (02628.HK) and ZA ONLINE (06060.HK) opened over 3% higher. Chinese property developers CHINA OVERSEAS (00688.HK) and CHINA RES LAND (01109.HK) swelled 2.8%. LONGFOR GROUP (00960.HK) rocketed 4.6%. AAStocks Financial News |
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