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<H Shrs>HSI Escalates 116 Pts at Midday as BIDU-SW Swells ~7%; POP MART Sags 5%
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Hong Kong stock futures rose in the morning session on settlement date. The HSI ticked up 116 points or 0.45% to 25,751 at midday. The HSCEI gained 59 points or 0.7% to 8,951. The HSTECH added 57 points or 1.1% to 5,540. Total half-day turnover of the market amounted to $96.537 billion. General GPU company ILUVATAR COREX (09903.HK) commenced its IPO today, aiming to raise up to approx. $3.677 billion. BIDU-SW (09888.HK) elevated 6.9% to $127.3 amid market anticipation surrounding BIDU-SW's Kunlun chip concept. Chip stock SMIC (00981.HK) mounted 3.2% after it acquired a 49% stake in SMNC for a final consideration of RMB40.6 billion. Robotics stock DOBOT (02432.HK) proposed an IPO on the Shenzhen Stock Exchange, boosting its share price by 4.8%. Its peer UBTECH ROBOTICS (09880.HK) shot up 6.3% after its chairman pledged not to reduce holdings within a year. Labubu's second-hand blind box prices plunged, with some models falling below original prices, denting POP MART (09992.HK)'s stock price by 5.2%. Casinos MELCO INT'L DEV (00200.HK) and MGM CHINA (02282.HK) slumped 3.5% and 3.7%, as MGM CHINA faced a sharp increase in royalty payable to its parent company next year. SANDS CHINA LTD (01928.HK) lost 2.3%. AAStocks Financial News Website: www.aastocks.com |
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