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<H Shrs>HSI Ends Down 465 Pts; AIA, Stanchart Dive 4%; Commodity Stocks Subside
Recommend 59 Positive 95 Negative 54 |
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The DJIA shed 1.3% overnight, as investors sold off tech stocks. Hong Kong stock market echoed the global downswing. The HSI opened 392 points lower, initially narrowing the loss to 258 points at 26,774, but then ebbed back. In the afternoon, it slid 588 points to bottom at 26,444. It eventually ended down 465 points or 1.7% at 26,567. The HSCEI lost 142 points or 1.6% to 9,032. The HSTECH fell 48 points or 0.9% to 5,360. The total market turnover for the day was HKD257.578 billion. Financials subsided, with HSBC HOLDINGS (00005.HK) and HKEX (00388.HK) down 2.7% and 2.1%. AIA (01299.HK) and STANCHART (02888.HK) dived 4.2%. Chinese insurers PICC GROUP (01339.HK) and CHINA LIFE (02628.HK) cratered 3.8% and 3.7%. BANK OF E ASIA (00023.HK) plunged 11% after charting a 24% drop in profit last year and an 11.6% cut in annual dividends. Gold prices sank below USD5,000/ oz overnight, with SD GOLD (01787.HK), CHINAGOLDINTL (02099.HK), and ZIJIN MINING (02899.HK) sagging 5.9-7.6%. ZHAOJIN MINING (01818.HK), ZIJIN GOLD INTL (02259.HK), and LINGBAO GOLD (03330.HK) slumped 3.9-5%. Gold retailers LAOPU GOLD (06181.HK) and CHOW TAI FOOK (01929.HK) slipped 4% and 3.9%. Commodity stocks JIANGXI COPPER (00358.HK), CHINAHONGQIAO (01378.HK), and CHALCO (02600.HK) nosedived 4.4-5.4%, with MMG (01208.HK) and CMOC (03993.HK) down 7.1% and 6.9%. Oil prices sagged nearly 3%, with SINOPEC CORP (00386.HK), PETROCHINA (00857.HK), and CNOOC (00883.HK) down 3.5-5.1%. Oil service provider CHINA OILFIELD (02883.HK) slid 3.7%. Shipper COSCO SHIP ENGY (01138.HK) fell off 7.7%. In the tech sector, TENCENT (00700.HK) and NTES-S (09999.HK) inched down 0.7%. KUAISHOU-W (01024.HK), JD-SW (09618.HK), BABA-W (09988.HK), and BILIBILI-W (09626.HK) dipped 1.6-2.2%. BIDU-SW (09888.HK), MEITUAN-W (03690.HK), and NEW ORIENTAL-S (09901.HK) tumbled over 3%. AASTOCKS Financial News Website: www.aastocks.com |
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