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<H Shrs>HSI Retreats 198 Pts at Midday; NWD Continues to Hit Lows; GCL TECH Subdued
Recommend 88 Positive 166 Negative 96 |
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The HSI concluded the midday at 19,666, retreating 198 points or 1%. The HSCEI ended the midday down 63 points or nearly 0.9% at 7,117. The HSTECH settled the midday down 58 points or 1.3% at 4,409. The half-day turnover amounted to $65.405 billion. The Federal Reserve's hawkish stance heaped pressure on Hong Kong developers and landlords. HENDERSON LAND (00012.HK) plunged 3.5% at midday, the worst performer among blue-chip stocks. HANG LUNG PPT (00101.HK), LINK REIT (00823.HK), SHK PPT (00016.HK), MTR CORPORATION (00066.HK), and WHARF REIC (01997.HK) waned 1.8-2.9%, while CK ASSET (01113.HK) also dipped 1.1%. NEW WORLD DEV (00017.HK) fell for the seventh consecutive day, hitting an intraday low of $5.05, the lowest in over 20 years. It eventually ended the midday at $5.18, down 1.7%, on a turnover of $97.19 million. Aware of some unfounded speculations and rumors circulating online about the company, NEW WORLD DEV responded last night by reaffirming that it will fully comply with all disclosure requirements and provide timely and appropriate information to investors and shareholders. Heavyweight techs were soft across the board. TRIP.COM-S (09961.HK) faltered 2.8%. JD-SW (09618.HK), BABA-W (09988.HK), BIDU-SW (09888.HK), KUAISHOU-W (01024.HK), NTES-S (09999.HK), and MEITUAN-W (03690.HK) drooped 1.8-2.4%. TENCENT (00700.HK) edged down 0.4%. Heavyweight financials were also weak. HANG SENG BANK (00011.HK) lost 1.9%. AIA (01299.HK) and CHINA LIFE (02628.HK) ebbed 1.2-1.4%. BOC HONG KONG (02388.HK), HSBC HOLDINGS (00005.HK), CCB (00939.HK), and HKEX (00388.HK) inched down 0.6-0.8%. GCL TECH (03800.HK) sank 7.4% to $1.12 at midday, on a turnover of $754 million. The company announced plans to raise about $1.53 billion net through a share placement. AAStocks Financial News |
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