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<H Shrs>HSI Settles Midday Lower by 201 Pts; LI AUTO Slumps 7%; But Oils Rise
Recommend 78 Positive 147 Negative 95 |
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The HSI closed at 16,184 at midday, down 201 pts or 1.2%. The HSCEI fell 69 pts or 1.2% to 5,734. The HSTECH dipped 87 pts or 2.6%, to 3,269. Half-day turnover totaled $63.067 billion. Techs were squeezed. TENCENT (00700.HK) faded 0.6%. After BABA-SW (09988.HK) reduced its holdings in CLOUD MUSIC (09899.HK) by 2.2 million shares off market, cashing in $192 million, the former and the latter sank 1.9% and 1.8%. MEITUAN-W (03690.HK) dived 3.6%. BIDU-SW (09888.HK), BILIBILI-W (09626.HK), KUAISHOU-W (01024.HK) and LENOVO GROUP (00992.HK) dipped 0.6%-2.9%. Separately, Lei Jun said Xiaomi SU7’s sales were 3-5 times above forecast, regardless, XIAOMI-W (01810.HK) slid 4.4%. JD-SW (09618.HK) fell 1.4%, after the group repurchased US$1.2 billion of shares in the first quarter, with the remaining balance of the repurchase plan amounting to US$2.5 billion. UBS expected JD to speed up the repurchase to unleash value. Automakers were in sell-off. LI AUTO-W (02015.HK) tumbled 7.3%, being the worst performing blue chip. Morgan Stanley said Li L6 brought no surprise. XPENG-W (09868.HK) plunged 6.2%. GEELY AUTO (00175.HK) slipped 3.2%, while its intelligent electric drive passed the test of China Automotive Technology & Research Center. BYD COMPANY (01211.HK) and NIO-SW (09866.HK) sagged more than 2%, whereas LEAPMOTOR (09863.HK) crated 7.1%. The three major oils bucked the local market to boom as the market kept eyes wide open on the intense situation in Iran, which shored up international oil prices. PETROCHINA (00857.HK), CNOOC (00883.HK) and SINOPEC CORP (00386.HK) gained 1.5%-2.5%. For handset component makers, SUNNY OPTICAL (02382.HK) slumped 4.8%; AAC TECH (02018.HK) nosedived 7.6%; BYD ELECTRONIC (00285.HK) and Q TECH (01478.HK) collapsed 4.9%-5.2%. AAStocks Financial News |
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