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<H Shrs>HSI Opens 182 Pts Lower; Gold/ Resource Stocks Slide; NWD Leaps 5%+
Recommend 5 Positive 5 Negative 8 |
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The Nasdaq went down by 0.7%, as Microsoft (MSFT.US) plunged overnight (29th), while the DJIA hiked 55 points or 0.1%. The market was watchful of US President Donald Trump’s announcement on the nominee for the Federal Reserve Chair. Hong Kong bourse started lower this morning. The HSI opened 182 points or 0.7% lower at 27,785. The HSCEI opened 64 points or 0.7% lower at 9,487. The HSTECH opened 51 points or 0.9% lower at 5,789. There were market rumors that NEW WORLD DEV (00017.HK) is potentially changing ownership, with Blackstone (BX.US) negotiating to become the largest single shareholder. The controlling shareholder of New World confirmed investor approaches, and NEW WORLD DEV opened 5.6% higher at HKD11.75. Gold prices jolted drastically overnight, with SD GOLD (01787.HK) and ZHAOJIN MINING (01818.HK) opening 4.4% and 3.3% lower, respectively. ZIJIN MINING (02899.HK) issued USD1.5 billion in convertible bonds, with the stock opening 3.5% lower. CHI SILVER GP (00815.HK) opened 2.7% lower. In the resource sector, JIANGXI COPPER (00358.HK) and CMOC (03993.HK) opened 4.6% and 3.5% lower, respectively, while CHINAHONGQIAO (01378.HK) opened 3.1% lower. CHALCO (02600.HK) invested over RMB4.2 billion, partnering with Rio Tinto to acquire a stake in Companhia Brasileira de Aluminio S.A., with the stock opening 3.7% lower. In the tech sector, TENCENT (00700.HK), JD-SW (09618.HK), BIDU-SW (09888.HK), and BILIBILI-W (09626.HK) opened 0.8-1.2% lower. BABA-W (09988.HK) and KUAISHOU-W (01024.HK) opened 1.9% and 2.4% lower, respectively. MEITUAN-W (03690.HK) opened 0.6% lower, and NTES-S (09999.HK) opened flat at HKD206.6. Among chip stocks, SMIC (00981.HK) and HUA HONG SEMI (01347.HK) opened 1.6% and 0.3% lower, respectively. AASTOCKS Financial News Website: www.aastocks.com |
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