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<H Shrs>HSI Drops 284 Pts at Midday as ATMXJ & New Consumers Weaken; WUXI Series Elevate
Recommend 8 Positive 4 Negative 5 |
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The HSI slipped 284 points or 1.1% to close at 25,383 at midday. The HSCEI lost 116 points or nearly 1.3% to close at 9,140 at midday. The HSTECH faded 97 points or 1.7% to 5,645. Hong Kong stocks' half-day turnover amounted to $151.008 billion. The heavy-weighting “ATMXJ” (i.e. Alibaba, Tencent, Meituan, Xiaomi and JD) techs weakened, with TENCENT (00700.HK) sagging 1.6% at midday. XIAOMI-W (01810.HK), BABA-W (09988.HK), MEITUAN-W (03690.HK) and JD-SW (09618.HK) shed 2.2-2.5%, while KUAISHOU-W (01024.HK) cascaded 4.3% to $72.9, being the worst-performing blue chip. MEITUAN-W recently held a food delivery industry forum in Shanghai, where merchants expressed concerns about being forced into price wars. WUXI BIO (02269.HK), which previously issued a positive profit alert, closed at $31.25 at midday, leaping 4.7%, being the best-performing blue chip, with a turnover of $1.992 billion. Its same series WUXI APPTEC (02359.HK) climbed 2.1% to $98.5 at midday, with a turnover of $650 million. WUXI XDC (02268.HK), which broke ceiling yesterday, closed at $56.05 at noon today, down 1.84%, with a turnover of $244 million. New consumers softened, with MIXUE GROUP (02097.HK) waning 1.6% at midday. POP MART (09992.HK) waned 0.9%, while LAOPU GOLD (06181.HK) stumbled 2.9%. AAStocks Financial News Website: www.aastocks.com |
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