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<H Shrs>HSI Sags 109 Pts Midday as Software/ Tech Stocks Subdued; Kingdee Plunges 14%+
Recommend 3 Positive 2 Negative 5 |
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The market was vigilant about the threat to the software industry's survival posed by the AI models from Alphabet (GOOGL.US) and Anthropic, exerting pressure on US software stocks. Hong Kong bourse softened in the early session, hijacked by related shares. The HSI closed the morning session down 109 points or 0.4% at 26,724. The HSCEI lost 48 points or 0.5% to 9,004. The HSTECH sank 119 points or 2.2% to 5,347. The total market turnover for the morning session was HKD151.41 billion. The software and tech application sectors were hit hard, with TENCENT (00700.HK) and BILIBILI-W (09626.HK) diving 3.4% and 4.9%, respectively. MEITU (01357.HK) and XD INC (02400.HK) tumbled 12.1% and 6.8%, while travel platforms TONGCHENGTRAVEL (00780.HK) and TRIP.COM-S (09961.HK) slumped 2.5% and 6.1%. KUAISHOU-W (01024.HK), MEITUAN-W (03690.HK), NTES-S (09999.HK), and BIDU-SW (09888.HK) each slipped over 2%. As to other techs, BABA-W (09988.HK) and JD-SW (09618.HK) dipped 0.9% and 1.5%, respectively. Semiconductor stocks SMIC (00981.HK) dived 2.8%. HUA HONG SEMI (01347.HK) and NOVOSENSE (02676.HK) plunged 5.2% and 6.5%. Mobile component stocks COWELL (01415.HK) and LENS (06613.HK) stumbled 5.9% and 5.5%. Q TECH (01478.HK) nosedived 3.8%. Optical fiber stock YOFC (06869.HK) cratered 4.2%. Gold and silver prices continued to rebound, with CHINAGOLDINTL (02099.HK) and ZHAOJIN MINING (01818.HK) up just over 1%, and CHI SILVER GP (00815.HK) down 1.5%. Resource stock MMG (01208.HK) spiked 4.2%. Mainland China raised refined oil prices, and the US reportedly shot down an Iranian drone, boosting oil stocks SINOPEC CORP (00386.HK), PETROCHINA (00857.HK), and CNOOC (00883.HK) by 1.1-1.5%. AASTOCKS Financial News Website: www.aastocks.com |
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