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<H Shrs>HSI Closes Down 347 Pts on Settlement Date as HANG SENG BANK Dips 7%+; Autos/ Chip Stocks Feeble
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Hong Kong stocks declined on the settlement date. The HSI shed 347 points or 1.4% to close at 25,176. The HSCEI faded 107 points or 1.2% to close at 9,038. The HSTECH waned 153 points or 2.7% to close at 5,490. Total market turnover for the day amounted to $319.652 billion. HSBC HOLDINGS (00005.HK)'s quarterly results were in line with expectations, but warned that the deterioration of the macro economy may prevent RoTE from reaching target in the next few years, dragging down its share price by 3.8% to $96.95. HANG SENG BANK (00011.HK)'s interim profit before tax missed expectation, and it did not rule out raising provisions. Its stock price stumbled 7.4% to $113.8. STANCHART (02888.HK) will announce its results tomorrow (31st), and its share price jumped up 1.8%. Chinese insurer NCI (01336.HK) swelled 6.2%, while ZA ONLINE (06060.HK) shrank 4.7%. In addition, HKEX (00388.HK) and AIA (01299.HK) lost 1.7% and 0.7%. Carmaker BYD COMPANY (01211.HK) slumped 5.8% following the record date for its bonus share distribution after market close yesterday (29th). LI AUTO-W (02015.HK)'s plunged 12.8% 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) descended more than 5%, while GEELY AUTO (00175.HK) cratered 4.2%. XIAOMI-W (01810.HK) slipped 1%. Tesla reportedly entered into a battery order with South Korea's LG Energy Solution, sinking CATL (03750.HK)'s stock price by 7.7%. For techs, TENCENT (00700.HK) dropped 1.1% after Prosus cut its stake again. BABA-W (09988.HK) and JD-SW (09618.HK) receded 3% and 2.7%, while BIDU-SW (09888.HK) faded 2%, NTES-S (09999.HK) MEITUAN-W (03690.HK) and BILIBILI-W (09626.HK) ebbed less than 1%, while KUAISHOU-W (01024.HK) added 0.4%. Chip equipment stock ASMPT (00522.HK) dived 3.6%, while chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) dipped 5.9% and 5.5%. AAStocks Financial News Website: www.aastocks.com |
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