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<H Shrs>HSI Slips 108 Pts at Midday; LI AUTO-W Tumbles 10%+; CATL Squeezed
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The HSI concluded the midday down 108 points or 0.4% at 25,415. The HSCEI dropped 39 points or 0.4% to 9,106. The HSTECH fell 88 points or 1.6% to 5,555. The total market turnover at midday amounted to HKD148.224 billion. Among car makers, BYD COMPANY (01211.HK) slipped 4.6% following the record date for its bonus share distribution after market close yesterday (29th). LI AUTO-W (02015.HK) tumbled 10.5% as the retail price for its i8 model exceeded RMB320,000, sparking market concern about SUV competition in China. NIO-SW (09866.HK) and XPENG-W (09868.HK) slid 3.2% and 4.7%. GEELY AUTO (00175.HK) and LEAPMOTOR (09863.HK) ebbed 2.7%. XIAOMI-W (01810.HK) edged down 0.4%. Tesla signed a battery order with South Korea's LG Energy Solution, sinking CATL (03750.HK)'s stock price by 6.8%. Regarding financial stocks, HSBC HOLDINGS (00005.HK) and HANG SENG BANK (00011.HK) released their results at midday close. HSBC HOLDINGS inched 0.4% lower to HKD100.4, while HANG SENG BANK dipped 0.7% to HKD122. STANCHART (02888.HK) is set to announce its results tomorrow (31st). Its stock price surged 3.8%. In the tech sector, Prosus further reduced its holdings in TENCENT (00700.HK). TENCENT's stock price receded 0.8%. BABA-W (09988.HK), JD-SW (09618.HK), and BIDU-SW (09888.HK) lost 1.1-1.6%, while MEITUAN-W (03690.HK) and BILIBILI-W (09626.HK) rallied 0.6% and 1.2%. KUAISHOU-W (01024.HK) gained 1.7%. As the US has allowed Nvidia to deliver the H20 AI chips to China, chip equipment stock ASMPT (00522.HK) waned 3%, while chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) faded 3.9% and 5.3%. AAStocks Financial News |
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