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<H Shrs>HSI Closes up 215 Pts in Half-Day Trading; BABA-W, XIAOMI-W Lead Surge; WEIMOB INC Soars 31%
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On half-day trade today for Christmas Eve, the HSI closed rallying 215 points or 1.1% at 20,098. The HSCEI rose 90 points or 1.2% to close at 7,303. The HSTECH climbed 49 points or 1.1%, closing at 4,507. The total half-day turnover of the market amounted to $84.59 billion. Ant mounted structural shakeup, setting up Digital Payment Business Group and Alipay Business Group. BABA-W (09988.HK) grew nearly 2.7%. Mainland China will speed up the introduction of compliance guidelines on charging behavior of network trading platforms, with a plan to formulate supervision and management measures for live broadcasting e-commerce. KUAISHOU-W (01024.HK) and EAST BUY (01797.HK) added 1.4% and 3.3%, respectively. After the US initiated a "Section 301 investigation" into China's advanced process chip industry, chip stock HUA HONG SEMI (01347.HK) waned 1.2%. XIAOMI-W (01810.HK) Mobile Division President Lu Weibing expected Xiaomi's annual handset shipments to rise 16% YoY to 170 million units, elevating the company's stock price by 3.2% to $32.75, a more than three-and-a-half-year high. As speculation on WeChat Mini Shops reignited, WEIMOB INC (02013.HK) rocketed 31% and YOUZAN (08083.HK) swelled nearly 10.9%. However, TENCENT (00700.HK) inched down less than 0.1% to $420. Among other tech stocks, MEITUAN-W (03690.HK) and NTES-S (09999.HK) dipped 0.3% and 1.2%, while JD-SW (09618.HK) and BIDU-SW (09888.HK) inched up 0.9% and 1%. PA GOODDOCTOR (01833.HK) and NEW ORIENTAL-S (09901.HK) advanced 3.2% and 2.5%. KINGSOFT CLOUD (03896.HK) retreated 4.5%. Handset component stock BYD ELECTRONIC (00285.HK) was speculated up by 5.7%. Stocks with Chinese characterized valuation performed positively. Chinese banks BANKCOMM (03328.HK), ABC (01288.HK), and BANK OF CHINA (03988.HK) jumped up by 1.8-2.1%. Chinese Insurers PICC P&C (02328.HK) and CPIC (02601.HK) shot up 3% and 2.3%. In addition, PETROCHINA (00857.HK), CRRC (01766.HK), and MAANSHAN IRON (00323.HK) also spiked over 2%. AAStocks Financial News |
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