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<H Shrs>HSI Ends Midday Down 24 Pts; KUAISHOU-W Dives 10%+; KINGSOFT CLOUD Speculated up 19%
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The HSI concluded the midday down 24 points or 0.1% at 19,680. The HSCEI fell 19 points or 0.3% to 7,071. The HSTECH dropped 25 points or 0.6% to 4,388. The total half-day turnover for the market was $66.406 billion. KUAISHOU-W (01024.HK) dived 10.5% as it reported quarterly adjusted earnings broadly in line with expectations and the market was concerned about the growth prospects of its e-commerce business. Handset component stocks Q TECH (01478.HK) and BYD ELECTRONIC (00285.HK) swelled over 5% despite a report suggesting that iPhone sales fell by a double digit during China's Double 11 shopping festival. Among other tech stocks, NTES-S (09999.HK) rose 2.3%. BABA-W (09988.HK) edged down 0.5%. TENCENT (00700.HK) and MEITUAN-W (03690.HK) both inched down less than 0.1%. XIAOMI-W (01810.HK) and JD-SW (09618.HK) added 1.4% and 0.5% respectively. BILIBILI-W (09626.HK) gained 0.1%. BIDU-SW (09888.HK) closed flat at $84. KINGSOFT (03888.HK), under continued speculation post results, shot up 2.5% in the morning session. KINGSOFT CLOUD (03896.HK) was speculated higher by 19% to $3.72. In addition, KINGDEE INT'L (00268.HK) and LENOVO GROUP (00992.HK) climbed 4.6% and 3.2%, while GDS-SW (09698.HK) tumbled 6.7%. EASOU TECH (02550.HK) spiked 24% at midday, on a turnover of over $446 million. NIO-SW (09866.HK) reported an adjusted net loss of RMB4.4 billion for 3Q24, with management targeting profitability by 2026. Its stock price dipped 0.4%. GEELY AUTO (00175.HK) hiked 1.8%, while LI AUTO-W (02015.HK) and XPENG-W (09868.HK) eroded 1.4% and 4.9% respectively. Second-hand car platform AUTOSTREETS (02443.HK) soared 21.9% at midday, on a turnover of over $420 million. AAStocks Financial News |
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