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<H Shrs>HSI Rises 118 Pts at Midday; MEITUAN-W Surges ~6%; CHOW TAI FOOK Sinks 7% Post-Results
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The HSI concluded the midday up 118 points or 0.5% at 26,013. The HSCEI rose 45 points or 0.5% to 9,203. The HSTECH climbed 28 points or 0.5% to 5,640. The total turnover for the market at midday amounted to HKD113.951 billion. BABA-W (09988.HK) ebbed 1.1% in the morning session. Its quarterly adjusted EBITA was in line with market expectations. Management expects a slowdown in next quarter's e-commerce CMR growth. In contrast, MEITUAN-W (03690.HK) rallied 5.9%, making it the largest blue-chip gainer at midday. According to Nomura, BABA-W revealed that its unit losses in instant commerce had halved by mid-December compared to July and August, and its instant commerce losses for this quarter are estimated to narrow markedly, which will be favorable for MEITUAN-W. Among other tech stocks, JD-SW (09618.HK) swelled 2%. XIAOMI-W (01810.HK) edged 0.3% higher. TENCENT (00700.HK) fell 0.5%. NTES-S (09999.HK) and BIDU-SW (09888.HK) slipped 1.3% and 1.5%. BILIBILI-W (09626.HK) and KUAISHOU-W (01024.HK) eroded 2.4% and 2.5%. In addition, PA GOODDOCTOR (01833.HK) and GDS-SW (09698.HK) soared 4.2% and 3.9%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) hiked 1.4% and 2.8%. Smart driving stock PONY-W (02026.HK) shot up 4.3%. It deepened its quarterly non-GAAP loss to USD5.47 million, though the profitability of single vehicles at the city level has turned positive. HESAI-W (02525.HK) continued to rise 6% after releasing its self-developed RISC-V LiDAR master chip FMC500. NIO-SW (09866.HK) tumbled 7.1%. It trimmed its quarterly non-GAAP loss, but its quarterly guidance fell short of some brokers' expectations. Its peer BYD COMPANY (01211.HK) advanced 3.4%, while WERIDE-W (00800.HK) shed 3.2%. Jewelry retail stock CHOW TAI FOOK (01929.HK) slumped 7.4%, the worst performer among blue chips at midday. Its interim net profit inched up 0.1%. Morgan Stanley said its gross margin guidance was raised more than expected. AAStocks Financial News |
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