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<H Shrs>HSI Ends 462 Pts Lower as Tech/ Pharma/ Resource Stocks Recede
Recommend 2 Positive 4 Negative 3 |
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The HSI crossed the finish line down 462 points or 1.7% at 26,290. The HSCEI fell 171 points or 1.8%, closing at 9,358. The HSTECH dropped 211 points or 3.3% to close at 6,259. The total market turnover for the day amounted to HKD333.737 billion. Among tech stocks, BABA-W (09988.HK) eroded 4.6% to close at HKD165.4. KUAISHOU-W (01024.HK) and BIDU-SW (09888.HK) shed 5.5% and 5.7%. TENCENT (00700.HK), JD-SW (09618.HK), and BILIBILI-W (09626.HK) lost 2.9-3.6%. MEITUAN-W (03690.HK) and XIAOMI-W (01810.HK) receded 1.8% and 2.4%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) sank 7.1% and 4%. In addition, KINGSOFT (03888.HK) and CHINASOFT INT'L (00354.HK) faded 3.5% and 3.6%. KINGDEE INT'L (00268.HK), KINGSOFT CLOUD (03896.HK), and CHINA LIT (00772.HK) plunged 4.6-5.9%. INNOSCIENCE (02577.HK) plans to raise HKD1.55 billion net through a 7.9% discounted share placement, reducing its stock price by 5%. As for automakers, GEELY AUTO (00175.HK), LEAPMOTOR (09863.HK), and XPENG-W (09868.HK) slid 3.5-4.2%. NIO-SW (09866.HK) plummeted 5.1%. BYD COMPANY-100 (01211.HK) slipped 1.8%. In the pharma sector, WUXI APPTEC (02359.HK) offloaded WUXI XDC (02268.HK) shares once again for HKD2.346 billion cash. WUXI XDC slumped 7.3%, while WUXI APPTEC and WUXI BIO (02269.HK) retreated 5.9% and 7.6%. CSPC PHARMA (01093.HK) received approval from the US FDA for clinical trials of its SYH2070 injection, lifting its stock price by 1.4%. HENLIUS (02696.HK) announced that the phase 3 clinical study of its HANSIZHUANG in combination with chemotherapy met a primary endpoint, yet its stock price tumbled 5.5%. PHARMARON (03759.HK) also dived 6.9%, while FOSUN PHARMA (02196.HK), HENGRUI PHARMA (01276.HK), and CANSINOBIO (06185.HK) declined 3.8-4.2%. As gold prices ebbed from their highs, ZHAOJIN MINING (01818.HK), ZIJIN MINING (02899.HK), SD GOLD (01787.HK), and LINGBAO GOLD (03330.HK) fell 5.9-7.4%. CHINAGOLDINTL (02099.HK) even nosedived 9.7%. AAStocks Financial News |
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