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<H Shrs>HSI Dives 215 Pts at Midday; CN Developer/ Autonomous Driving/ Xinyi Series/ New Consumer Stocks Under Pressure; CN Biotech Stocks Rally Against Trend
Recommend 2 Positive 1 Negative 7 |
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The HSI ended the midday down 215 points or 0.8% at 25,549. The HSCEI fell 101 points or 1.1% to 8,981. The HSTECH dropped 74 points or 1.3% to 5,587. The market's half-day turnover amounted to HKD107.76 billion. The US Congress is expected to pass a bill restricting Chinese biotech companies from obtaining government-funded contracts. Biotech and pharmaceutical stocks zoomed higher against the market trend. WUXI BIO (02269.HK) leaped 3%, the best performer among blue chips. Under the same series, WUXI APPTEC (02359.HK) added 0.9%. SINO BIOPHARM (01177.HK) edged up 0.7%. SIRNAOMICS-B (02257.HK) surged 13.4%. ASCLETIS-B (01672.HK) soared nearly 16% on positive results for its GLP-1 drug ASC30 in obesity treatment. Among tech stocks, as a self-driving taxi branded "Hello Autonomous Driving" caused an accident that resulted in injuries in China, BIDU-SW (09888.HK) slipped 2.3%. BABA-W (09988.HK) edged down 0.5%. TENCENT (00700.HK) dipped 0.7%. XIAOMI-W (01810.HK) slid 2.7%. BILIBILI-W (09626.HK), KUAISHOU-W (01024.HK), and MEITUAN-W (03690.HK) receded 1.4-2.6%. LENOVO GROUP (00992.HK) lost 0.9%. JD-SW (09618.HK) faded 0.3%. As US President Donald Trump announced that Nvidia (NVDA.US) can sell H200 chips to China, chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) eroded 2.4% and 2.8%. In contrast, data center stock GDS-SW (09698.HK) rose 4.1%, while SENSETIME-W (00020.HK) inclined 1.4%. Chinese developers were soft. LONGFOR GROUP (00960.HK) plunged 4.1%. CHINA RES LAND (01109.HK) and CHINA OVERSEAS (00688.HK) shed 2.7% and 2.6%. CHINA VANKE (02202.HK) dropped 2%. WANGUO GOLD-NEW (03939.HK) was included in the SZSE's Southbound Stock Connect list, yet its stock price plummeted 6.4%. XINYI GLASS (00868.HK) cratered 6.2%, making it the worst-performing blue-chip stock. Its same series XINYI SOLAR (00968.HK) also fell 4.3%. POP MART (09992.HK) retreated over 4%. AAStocks Financial News |
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