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<H Shrs>HSI Balloons 292 Pts at Close; CN Banks & Insurers Spearhead Surge; CHINA LIFE Spikes 4%+
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The HSI concluded the day up 292 points or 1.3% at 23,530. The HSCEI rose 116 points or 1.4%, closing at 8,527. The HSTECH climbed 44 points or 0.8% to close at 5,133. The total market turnover for the day amounted to HKD222.423 billion. Amid market expectations of China lowering the five-year LPR independently in 2H25, Chinese banks ICBC (01398.HK) and CCB (00939.HK) rallied 2.8% and 3.3%. Meanwhile, as investors expected a reduction in high-interest insurance products, Chinese insurer CHINA LIFE (02628.HK) was speculated up 4.7%, while PICC GROUP (01339.HK), CHINA TAIPING (00966.HK), PING AN (02318.HK), and CPIC (02601.HK) also hiked 2.8-3.4%. Among other financial stocks, HSBC HOLDINGS (00005.HK), HKEX (00388.HK), and AIA (01299.HK) inched 0.7-1.6% higher. STANCHART (02888.HK) ballooned 3.4%. In the tech sector, BABA-W (09988.HK), TENCENT (00700.HK), SMIC (00981.HK), and BILIBILI-W (09626.HK) gained 1.4-1.7%. JD-SW (09618.HK), NTES-S (09999.HK), KUAISHOU-W (01024.HK), and BIDU-SW (09888.HK) added less than 1%. NEW ORIENTAL-S (09901.HK) and PA GOODDOCTOR (01833.HK) advanced 2.4% and 2.6%. MEITUAN-W (03690.HK) edged up 0.2% as Meituan Instashopping saw over 100 million users placing orders during the 618 shopping festival, with transaction volumes doubling for over 60 categories of goods. As for carmakers, GEELY AUTO (00175.HK) and NIO-SW (09866.HK) inclined 2.1% and 2.7%, while BYD COMPANY (01211.HK) and XIAOMI-W (01810.HK) escalated 1% and 1.9%. Battery stock CATL (03750.HK) edged up 0.1%. Regarding consumer stocks, VIVA GOODS (00933.HK) increased its stake in LI NING (02331.HK) with HKD275 million, lifting its stock price by 17.6% and LI NING's by 4.8%. POP MART (09992.HK) slipped 3.6%, and BLOKS (00325.HK) dived 9.7%, as an article published by People's Daily called for tightened regulation of blind cards and blind boxes. AAStocks Financial News |
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