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<H Shrs>HSI Adds 21 Pts at Midday; TENCENT-Related Stocks Surge; BABA-W, KUAISHOU-W Squeezed
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The People's Bank of China maintained the five-year and one-year LPR unchanged. The Hong Kong stock market delivered a positive performance with certain tech stocks surging this morning. The HSI ended the midday up 21 points or 0.1% at 19,774. The HSCEI rose 16 points or 0.23% to 7,168. The HSTECH climbed 28 points or 0.65% to 4,468. The total market turnover at midday amounted to $84.443 billion. Apple is said to be in talks with TENCENT (00700.HK) and ByteDance to integrate AI into iPhones. TENCENT grew 3.1% to $428, and WEIMOB INC (02013.HK) was speculated up by 16.6%. BIDU-SW (09888.HK) faltered 2.9% to $81.7. EAST BUY (01797.HK) launched a new "Send Gifts" function on Weixin Shop. Its stock price soared 15.4%. E-commerce-related stocks caved under pressure. BABA-W (09988.HK) slipped 3.3% to $80.2. JD-SW (09618.HK) lost 2.1%. KUAISHOU-W (01024.HK) sank 4.6%. Chinese chip stocks were in demand. SMIC (00981.HK) and HUA HONG SEMI (01347.HK) spiked 10.5% and 7.3%, respectively. As for other tech stocks, XIAOMI-W (01810.HK) advanced 3.2% to $31.8. MEITUAN-W (03690.HK) and BILIBILI-W (09626.HK) inched up 0.9%, while NTES-S (09999.HK) edged down 0.7%. KINGSOFT CLOUD (03896.HK) and Q TECH (01478.HK) swelled 10.6% and 8.3%, while NETEASE MUSIC (09899.HK) cratered 4.5%. Among car stocks, LEAPMOTOR (09863.HK) leaped 4.2%. NIO-SW (09866.HK) and LI AUTO-W (02015.HK) both escalated over 2%. Automotive smart chip maker HORIZONROBOT-W (09660.HK) plunged 5.6%. AAStocks Financial News |
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