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HSI Once Leaps 380+ pts; POP MART Continues to Hit New Highs; BOC HONG KONG/ MENGNIU DAIRY Hyped Up 7%+
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Continuing yesterday's upswing, the HSI opened 60 points higher this morning (27th) at 23,543. It once fell by 110 points in early trading but then rebounded in the A-shares' wake to reach a peak of 23,865 with a surge of 382 points at one point. It last printed at 23,749, up 266 points or 1.1%, on a turnover of $121.926 billion. Stocks that delivered a positive performance in their results gained traction. POP MART (09992.HK) continued to hit new highs. It opened up 5.9% this morning and soared as high as $160. It last traded at $159.4, up 13.29%, on a turnover of $2.789 billion. The company's 2024 net profit rocketed by 1.9 times YoY, and it expected this year's sales to exceed RMB20 billion. MIXUE GROUP (02097.HK) once faltered after opening up 1.1%, but it managed a rebound and hit a peak of $430 with a spike of 4.8% at one point. It last traded at $421.4, up 2.68%, on a turnover of $147 million. The company's full-year net profit for 2024 was RMB4.437 billion, up 41.4% YoY, yet no dividend has been declared. BOC HONG KONG (02388.HK) last ballooned 7.2% to $32, on a turnover of $904 million. The bank's 2024 net profit grew by 16.8% YoY to $38.233 billion. It declared a final dividend of $1.419 per share. Together with the interim dividend, the bank's total annual dividend was $1.989 per share, up 19% YoY, and its payout ratio inched up by 1 ppt to 55%. The bank plans to declare dividends quarterly starting from 2025. Chinese consumer stocks buoyed the market upwards. MENGNIU DAIRY (02319.HK) mushroomed by 7.2%. LI AUTO-W (02015.HK), HAIDILAO (06862.HK), TINGYI (00322.HK), and BUD APAC (01876.HK) advanced by 2.9-5.8%. Heavyweight tech stocks, including BAT, performed robustly. BABA-W (09988.HK), MEITUAN-W (03690.HK), and TENCENT (00700.HK) inclined by 1.3-3.1%. Heavyweight financial stocks moved up. HSBC HOLDINGS (00005.HK) edged up by 0.6%, HKEX (00388.HK) climbed by 1.3%. AIA (01299.HK) shot up by 2.6%. CHINA LIFE (02628.HK) underperformed after announcing its results. It was last at $15.36, down 1.54%, on a turnover of $1.099 billion. It recorded a net profit of RMB106.9 billion for 2024, up 131.6% YoY, with a final dividend of RMB0.45. Set to announce its results, SMIC (00981.HK) saw its stock price surge by 6.1% to $51.25. AAStocks Financial News |
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