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<H Shrs>HSI Closes Surging 501 Pts w/ Record-Breaking Turnover $500B+; CN Developers, Brokers, Consumers & Techs Lead Gains
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Stimulated by China's financial and property stimulus policies, Hong Kong stocks continued their upward trend. The HSI opened 543 points higher, once reaching 20,789 with its gains narrowing to 157 points in the early session. After peaking at 21,488 with a surge of 856 points at one point after midday, it closed the day up 501 points, or 2.4%, at 21,133. The HSCEI gained 209 points, or 2.9%, to close at 7,509. The HSTECH rose 298 points, or 6.7%, to close at 4,751. The total market turnover for the day amounted to a record high of $505.838 billion. Shanghai, Guangzhou, and Shenzhen successively adjusted their purchase restriction policies on housing. Chinese developers SUNAC (01918.HK) and R&F PROPERTIES (02777.HK) skyrocketed 55% and 35%, respectively. KWG GROUP (01813.HK) surged 28%. CHINA JINMAO (00817.HK), AGILE GROUP (03383.HK), and CIFI HOLD GP (00884.HK) jumped up by 19%. SINO-OCEAN GP (03377.HK), LONGFOR GROUP (00960.HK), and CHINA VANKE (02202.HK) advanced over 9-13%. Building material stocks CNBM (03323.HK), BBMG (02009.HK), and CR BLDG MAT TEC (01313.HK) swelled 14-17%. As China's stock markets thrived with record-breaking turnover, brokers outpaced the market. CGS (06881.HK), CITIC SEC (06030.HK), GF SEC (01776.HK), and CSC (06066.HK) spiked 17-21%. HTSC (06886.HK) and CICC (03908.HK) hiked 13% and 11%. Chinese insurers ZA ONLINE (06060.HK) and NCI (01336.HK) ascended 20% and 13%. CHINA LIFE (02628.HK) and CPIC (02601.HK) climbed 6.3% and 4.3%. Chinese banks CCB (00939.HK), ICBC (01398.HK), BANK OF CHINA (03988.HK), and ABC (01288.HK) slipped 1.5-2.7%. Shanghai has issued a maximum personal subsidy of RMB20,000 to support the car trade-in program. XPENG-W (09868.HK) and LEAPMOTOR (09863.HK) soared 14% and 12%. LI AUTO-W (02015.HK) escalated 8.4%. BYD COMPANY (01211.HK) added 2.9%. NIO-SW (09866.HK)'s subsidiary NIO China received a strategic investment of RMB3.3 billion for new shares, pushing its stock price up 17%. Consumer stocks continued to rally. JIUMAOJIU (09922.HK), CTG DUTY-FREE (01880.HK), and XIABUXIABU (00520.HK) rocketed 28-34%. CHINA SOUTH AIR (01055.HK) hiked 19%. MNSO (09896.HK), ALI PICTURES (01060.HK), ZHONGSHENG HLDG (00881.HK), and CHINA FEIHE (06186.HK) escalated 12-15%. HAIDILAO (06862.HK) advanced 8.7%. Tech stocks surged. BABA-W (09988.HK) rose 7.3%. JD-SW (09618.HK) and KUAISHOU-W (01024.HK) swelled 9.9% and 8%. MEITUAN-W (03690.HK) and BIDU-SW (09888.HK) spiked 4.5% and 5%. XIAOMI-W (01810.HK) and NTES-S (09999.HK) grew 2.5% and 3.2%. BILIBILI-W (09626.HK) soared 15%. In September, China greenlighted 109 China-made online games, including TENCENT (00700.HK)'s game "Hunt (literal translation of "狩")". TENCENT's stock price swelled 1.6%. Other tech stocks also showed strong gains. ALI HEALTH (00241.HK) and EAST BUY (01797.HK) jumped up by 30% and 24%. SENSETIME-W (00020.HK), WEIMOB INC (02013.HK), and MEITU (01357.HK) advanced 15-18%. PA GOODDOCTOR (01833.HK), XD INC (02400.HK), KINGDEE INT'L (00268.HK), GDS-SW (09698.HK), JD HEALTH (06618.HK), CHINASOFT INT'L (00354.HK), CLOUD MUSIC (09899.HK), SMIC (00981.HK), and HUA HONG SEMI (01347.HK) spiked 9-13%. AAStocks Financial News |
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