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<H Shrs>HSI Closes 91 pts Higher; SMIC, HUA HONG SEMI Subtract Post-Results; HENDERSON LAND, SHK PPT Rally
Recommend 2 Positive 1 Negative 5 |
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The HSI ended the day up 91 points or 0.4% at 22,867. The HSCEI rose 8 points or 0.1% to close at 8,308. The HSTECH dropped 48 points or 0.9%, closing at 5,180. Total market turnover for the day amounted to $161.629 billion. SMIC (00981.HK) slumped 4.8% to $43 as its 1Q revenue QoQ growth missed guidance, while 2Q revenue is guided to fall 4-6% QoQ. HUA HONG SEMI (01347.HK)'s 1Q net profit plunged 88%, sinking its stock price by 7.9% to $32.45. BABA-W (09988.HK) climbed 1.7% to $123.6 after its open-source innovative foundation model search engine ZeroSearch outperformed Google Search. BIDU-SW (09888.HK) edged down 0.5%. Among other tech stocks, TENCENT (00700.HK), MEITUAN-W (03690.HK), JD-SW (09618.HK), BILIBILI-W (09626.HK), and NEW ORIENTAL-S (09901.HK) dipped less than 1%. NTES-S (09999.HK) and KUAISHOU-W (01024.HK) eroded 1.3% and 2.3%. JD HEALTH (06618.HK), EAST BUY (01797.HK), and KINGSOFT CLOUD (03896.HK) faded 3.2-3.4%. In the auto sector, BYD COMPANY (01211.HK) inched up 0.3% to $387 amid reports saying that it aims for overseas car sales to account for half of its total by 2030. GEELY AUTO (00175.HK) shot up 4.8%. XIAOMI-W (01810.HK) gained 1.1% to $51.35. LI AUTO-W (02015.HK) retreated 2%. FIT HON TENG (06088.HK) ebbed 3.3%. The one-month HIBOR fell to an over-2.5-year low. HENDERSON LAND (00012.HK) and SHK PPT (00016.HK) were speculated up 6.2% and 5% respectively, and BofA Securities upgraded HENDERSON LAND's rating to Buy. As the market was watching closely as China may promote the completed commercial home sales system nationwide, Chinese developers faltered across the board. CHINA RES LAND (01109.HK), SEAZEN (01030.HK), AGILE GROUP (03383.HK), and GREENTOWN CHINA (03900.HK) lost 2.9-3.4%. AAStocks Financial News |
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