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<H Shrs>HSI Tumbles 304Pts at Midday; Techs, Golds Wane; ZTE Up ~7% against Mkt Trend
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Hong Kong bourse stretched losses in morning trading, following a 2% slump in the NASDAQ Golden Dragon China Index overnight. The HSI opened 228 points lower and saw losses widen, losing as much as 391 points to 26,360. By midday, it plummeted 304 points, or 1.1%, at 26,447. The HSCEI sank 114 points, or 1.2%, to 9,415, while the HSTECH stumbled 158 points, or 2.4%, to 6,312. Morning turnover hit HKD180.326 billion. For techs, BABA-W (09988.HK) and KUAISHOU-W (01024.HK) slid 4% and 4.3%, respectively. BIDU-SW (09888.HK) sagged 5.4%. TENCENT (00700.HK) and XIAOMI-W (01810.HK) fell off 2.8% and 2.6%. MEITUAN-W (03690.HK), JD-SW (09618.HK), and BILIBILI-W (09626.HK) shrank 1.3-1.8%. In the chip sector, SMIC (00981.HK) and HUA HONG SEMI (01347.HK) tumbled 5.7% and 4%, respectively. Handset component stocks also weakened, with COWELL (01415.HK), Q TECH (01478.HK), and LENS (06613.HK) diving over 4%. SUNNY OPTICAL (02382.HK) lost 3.5% after its subsidiary proposed a share swap to acquire approximately 31.31% of Goertek Optical’s equity. BYD ELECTRONIC (00285.HK) and AAC TECH (02018.HK) also subsided over 3%. Battery stock CATL (03750.HK) plunged 7.2%. For lithium stocks, GANFENGLITHIUM (01772.HK) shed 8.2%, and TIANQI LITHIUM (09696.HK) cratered 6.9%. In the auto sector, GEELY AUTO (00175.HK) and LEAPMOTOR (09863.HK) stumbled 2.7%; XPENG-W (09868.HK) and NIO-SW (09866.HK) nosedived 3.5% and 4%, respectively, while BYD COMPANY-100 (01211.HK) edged down 0.5% to HKD109.7. The Macao Government Tourism Office charted a near 88% hotel occupancy rate during the National Day Golden Week, but casinos deteriorated, with GALAXY ENT (00027.HK) down 2.3%, MELCO INT'L DEV (00200.HK) down 2.8%, and SANDS CHINA LTD (01928.HK) down 3.6%. Gold prices retreated from recent highs, jeopardizing related stocks. ZHAOJIN MINING (01818.HK), ZIJIN MINING (02899.HK), and LINGBAO GOLD (03330.HK) sagged 4.2-5.1%. SD GOLD (01787.HK) and CHINAGOLDINTL (02099.HK) faded 6.3% and 7.7%, respectively. Resource stocks MMG (01208.HK) and CMOC (03993.HK) slipped 3.4% and 3.9%, respectively. AAStocks Financial News |
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