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<H Shrs>HSI Slumps 403 Pts at Close; MEITUAN-W Slides 4%+; KUAISHOU-W Rallies 6% Against Mkt
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The HSI ended the day down 403 points or 1.6% at 24,773. The HSCEI plunged 155 points or 1.7% to close at 8,882. The HSTECH dropped 37 points or 0.7%, closing at 5,453. The total market turnover for the day reached HKD320.633 billion. MEITUAN-W (03690.HK) slid 4.6% on reports saying that Prosus will further slash its stake in the company. JD-SW (09618.HK) lost 3.2% after submitting a bid for European consumer electronics retailer Ceconomy. NEW ORIENTAL-S (09901.HK) had its target price reduced by multiple brokers post-results, sinking its stock price by 4.1%. KUAISHOU-W (01024.HK)'s Kling AI model made its appearance on CCTV's program, elevating the company's stock price by 6.4%. MEITU (01357.HK) and KINGDEE INT'L (00268.HK) mushroomed 11% and 9.3%, respectively. KINGSOFT CLOUD (03896.HK) hiked 5.5%. Among other tech stocks, BABA-W (09988.HK) and BIDU-SW (09888.HK) fell over 1%, while TENCENT (00700.HK) and BILIBILI-W (09626.HK) inched up 0.2% and 0.3%, respectively. NTES-S (09999.HK) dipped 0.4%. SMIC (00981.HK) gained 1.8%. WUXI APPTEC (02359.HK) announced a 6.9% discounted share placement to raise HKD7.65 billion net. Its stock price plummeted 5.6%. Under the same series, WUXI BIO (02269.HK) receded 3.6%. SINO BIOPHARM (01177.HK) remained flat at HKD7.52 at close. It reached a smooth licensing collaboration with Merck, with a USD300 million milestone payment expected soon. REMEGEN (09995.HK) dived 6.8%. SINOPHARM (01099.HK) and PHARMARON (03759.HK) waned 3.9% and 4.2%, respectively. Battery stock CATL (03750.HK) eroded 4.8%, even though it reported a 33% increase in its interim net profit. NIO-SW (09866.HK), GWMOTOR (02333.HK), and GEELY AUTO (00175.HK) lost over 3%. BYD COMPANY (01211.HK) dropped 4.5%. XIAOMI-W (01810.HK) ebbed 2.9%. AAStocks Financial News |
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