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<H Shrs>HSI Closes Up 48 Pts, but Handset & Chip Stocks Slip; SMIC Craters 4%+
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The HSI inched up 48 points or 0.2% to close at 21,466. The HSCEI lifted 17 points or 0.2% to close at 7,982. The HSTECH ebbed 33 points or 0.7% to close at 4,981. Total market turnover for the day shrank to $185.064 billion. For techs, BABA-W (09988.HK) gained 1.6% to $109.9, while TENCENT (00700.HK) picked up 0.4% to $456. MEITUAN-W (03690.HK) ticked up 0.6% as Meituan Takeaway will subsidize RMB100 billion to the catering industry over 3 years, while JD-SW (09618.HK) lost 0.1%. XIAOMI-W (01810.HK) is rumored to be delaying the launch of EVs and consumer electronics. Yesterday, XIAOMI-W's share price weakened against the market, and slid another 0.2% to $43.1 at close. BIDU-SW (09888.HK) ascended 0.1%, while BILIBILI-W (09626.HK) and NTES-S (09999.HK) cascaded 1.4% and 1.5%. KUAISHOU-W (01024.HK) jumped up 1.7%. CHINA RUYI (00136.HK) raised a net of about $2.304 billion from the issue of convertible bonds, but its shares tumbled 10%. Handset-related stocks retreated. BYD ELECTRONIC (00285.HK), SUNNY OPTICAL (02382.HK) and Q TECH (01478.HK) faded over 2%, while AAC TECH (02018.HK) slumped 5.5%. In addition, NEW ORIENTAL-S (09901.HK), NETEASE MUSIC (09899.HK) and GDS-SW (09698.HK) elevated 2.7-3.7%, while EAST BUY (01797.HK) and KINGSOFT CLOUD (03896.HK) eroded 3% and 3.6%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) stumbled 4.5% and 3.2%. AAStocks Financial News |
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