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HSI Falls Below 26,000 Mark After Midday; POP MART Slips 4%; Gold Miners Sold Off
Recommend 5 Positive 6 Negative 8 |
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The HSI was thrown into a downtrend after midday. It last dropped 161 points or 0.6% to 25,997, below the 26,000 mark. New consumer stocks were squeezed, with POP MART (09992.HK) once sinking to an over five-month low of HKD215.8 since late-May. It last traded at HKD217.4, down 4.06%, with a turnover of HKD2.564 billion. MIXUE GROUP (02097.HK) also fell 1.3%. Gold Jewelry stocks softened due to China's latest policy to cancel the tax incentives for gold purchases. LAOPU GOLD (06181.HK) once slid to HKD610, a new low since mid-March. It was last at HKD612, down 3.7%, with a volume of 761,700 shares, involving HKD474 million. As for other gold jewelry stocks, most of them also turned south. CHOW TAI FOOK (01929.HK) and CHOW SANG SANG (00116.HK) lost 2.6-3.1%. LUK FOOK HOLD (00590.HK) edged down 0.8%. On the bright side, ZHOU LIU FU (06168.HK) rallied 1.9%. Gold miners were under selling pressure as international gold prices continued to ebb, with the latest spot gold price at USD3,967 per ounce. ZIJIN MINING (02899.HK) last traded at HKD29.92, down 5.67%, making it the worst performer among blue chips, with a turnover of HKD1.766 billion. Its international business arm ZIJIN GOLD INTL (02259.HK) was last at HKD124.1, down 4.46%, with a turnover of HKD238 million. In addition, LINGBAO GOLD (03330.HK) cratered 7.2%. CHINAGOLDINTL (02099.HK), TONGGUAN GOLD (00340.HK), SD GOLD (01787.HK), ZHAOJIN MINING (01818.HK), and CHIFENG GOLD (06693.HK) dived 4.1-5.2%. AAStocks Financial News |
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