Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<H Shrs>HSI Sinks 517 Pts at Midday as XIAOMI-W Erodes 5%+; Autos, AI Concepts Fade
Recommend 5 Positive 6 Negative 5 |
||||
|
||||
|
The HSI cascaded 517 points or 2.2% to 23,387 at midday. The HSCEI sagged 216 points or 2.4% to 8,634. The HSTECH waned 202 points or 3.5% to 5,534. Total half-day turnover of the market amounted to $184.498 billion. XIAOMI-W (01810.HK) announced a 6.6% discounted top-up placing, raising net proceeds of $42.5 billion, with its share price shrinking 5.4%. BYD COMPANY (01211.HK) reported a 34% YoY increase in net profit for last year, with market concerning about its 2025 sales target, but its share price slipped 3.4%. BYD ELECTRONIC (00285.HK) saw a 5.5% YoY rise in net profit last year, and brokers said that its gross profit margin/ operating profit missed expectations, with its stock descending 9.7%. SUNNY OPTICAL (02382.HK) posted a 1.46x YoY surge in net profit for last year, but its share price dipped 8.4%. Citi Research said that SUNNY OPTICAL's operating profit was weaker than expected. MEITUAN-W (03690.HK) Core Local Commerce CEO Wang Puzhong stated that the company is developing a native AI product. However, its stock receded 4.2%. BABA-W (09988.HK)'s Chairman, Joe Tsai, said that signs of a bubble are emerging in AI data center buildout. Related concept stocks fell, with GDS-SW (09698.HK), KINGSOFT CLOUD (03896.HK), WEIMOB INC (02013.HK) and HUA HONG SEMI (01347.HK) cratering over 5%. For other carmakers, LEAPMOTOR (09863.HK), LI AUTO-W (02015.HK) and GEELY AUTO (00175.HK) shed 3.8-5%, while XPENG-W (09868.HK) and GWMOTOR (02333.HK) stumbled more than 6%. Consumers broadly declined. ANTA SPORTS (02020.HK), YUM CHINA (09987.HK) and TRIP.COM-S (09961.HK) lost 3-3.6%, while POP MART (09992.HK) dived 5.9%. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
