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<H Shrs> HSI Ends Down 58 pts; PETROCHINA (00857.HK) Surges Nearly 4%
Recommend 34 Positive 46 Negative 39 |
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The market continued to monitor developments in the meeting between Chinese and US leaders and the situation in the Middle East. The Hang Seng Index (HSI) opened up 90 pts this morning (12th) but traded choppily before turning lower in the afternoon. The HSI closed at 26,347 pts, down 58 pts or 0.22%, with full-day turnover of HKD262.647 billion. The HSCEI closed at 8,882 pts, down 1 pt or 0.02%. The HSTECH closed at 5,070 pts, down 35 pts or 0.7%. Leading tech stocks were mixed. KUAISHOU-W (01024.HK), which was rumored to spin off its Kling AI video business for listing, announced at noon that it is evaluating a proposed restructuring plan involving Kling AI-related assets and operations and may introduce external financing. KUAISHOU-W once surged 11% intraday and eventually closed up 1.94% at HKD52.6. BABA-W (09988.HK) closed at HKD133.3, down 0.45%. Citi reiterated its Buy rating on the stock and named it as its top pick in Chinas artificial intelligence sector. TENCENT (00700.HK) fell 1.55% to HKD457.2. JD-SW (09618.HK), which will announce its 1Q26 results after market close today, edged down 0.1%. POP MART (09992.HK) closed at HKD162.9, down 2.69%, after several brokers including UBS, M Stanley and Deutsche Bank lowered their TP and earnings forecasts amid concerns over slowing overseas demand and fading popularity of Labubu. Among other blue chips, HSBC HOLDINGS (00005.HK) closed at HKD138.6, down 1.84%. LENOVO GROUP (00992.HK) dropped 3.43% to HKD12.95, making it the worst-performing blue chip. XINYI GLASS (00868.HK) was the best performer, rising 4.53% to HKD11.31. Energy stocks strengthened as Iran threatened to raise uranium enrichment purity to weapons-grade levels if attacked again. PETROCHINA (00857.HK) climbed 3.9% to HKD11.06. CNOOC (00883.HK) rose 1.2%, while SINOPEC CORP (00386.HK) edged up 0.45%. Among active movers, MOST KWAI CHUNG (01716.HK) surged sharply to close at HKD9.65, up 31.47%. HENGRUI PHARMA (01276.HK) once jumped 16.2% in the afternoon before trimming gains to close at HKD69.25, up 4.8%, after announcing a global strategic cooperation agreement with Bristol Myers Squibb, involving related payments of USD950 million. DEEPEXI TECH (01384.HK) closed at HKD70.3, up 12.3%, after its founder published an article highlighting the importance of memory mechanisms in intelligent agent platforms. YOFC (06869.HK) rose 4.55% to HKD271.2 after G Sachs raised its TP. TIME INTERCON (01729.HK) fell 9.96% to HKD21.88 after announcing a share placement at a 13.6% discount. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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