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HSI Amplifies Gains to over 400 pts; New Econs, Insurers, Autos Drive Rally
Recommend 164 Positive 323 Negative 143 |
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Rising for the third consecutive day, the HSI opened high by 243 pts or 1.2%, to post at 20,193, driven by new economy stocks and insurers. Once peaking at 20,377 (close to the 20MA at 20,386), the index last posted 20,369, up 418 pts or 2.1%, on a turnover of $45.8 billion. Blue chip stocks were broadly brisk. TENCENT (00700.HK) last stood at $359.8, up 2.8%. NTES-S (09999.HK) likewise jumped 4.1% to post at $147.9, while JD-SW (09618.HK) and BABA-SW (09988.HK) expanded over 4% each. MEITUAN-W (03690.HK) last printed $169, up 3.4%. HKEX (00388.HK), PING AN (02318.HK), CHINA LIFE (02628.HK) and AIA (01299.HK) charted the largest gains among financials, up by over 2-3%. Automakers likewise broadly edged up over 1.5-8% as data from the China Association of Automobile Manufacturers (CAAM) suggested that China's auto exports in 4M22 increased by 39.4% YoY to 723,000 units. Blue chip carmakers BYD COMPANY (01211.HK) and GEELY AUTO (00175.HK) hiked 5.4% and 6.4%, respectively, while GREATWALL MOTOR (02333.HK) and NIO-SW (09866.HK) leaped 9% and 8%, respectively. AAStocks Financial News |
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