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<H Shrs>HSI Leaps 266 Pts at Midday; CN Banks & Insurers Lead Charge; LI NING Rockets 6%+
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The HSI settled the midday up 266 points or 1.1% at 23,504. The HSCEI rose 104 points or 1.2% to 8,515. The HSTECH climbed 36 points or 0.7% to 5,124. The total market turnover at midday amounted to HKD92.988 billion. Chinese financial stocks were thriving. Chinese banks ICBC (01398.HK), CCB (00939.HK), and CM BANK (03968.HK) rallied 2.8-3.2%, while Chinese insurers PICC GROUP (01339.HK), CHINA LIFE (02628.HK), and CHINA TAIPING (00966.HK) grew 3.8-4.3%. PING AN (02318.HK) also ticked up 3.2%. Other financial stocks HSBC HOLDINGS (00005.HK), HKEX (00388.HK), and AIA (01299.HK) gained 0.9-1.6%. Among tech stocks, BABA-W (09988.HK), TENCENT (00700.HK), NTES-S (09999.HK), KUAISHOU-W (01024.HK), and BIDU-SW (09888.HK) inched 0.5-1% higher. BILIBILI-W (09626.HK) and PA GOODDOCTOR (01833.HK) rose 1.9% and 2.8%. MEITUAN-W (03690.HK) edged up 0.6% as Meituan Instashopping saw over 100 million users placing orders during the 618 shopping festival, with transaction volumes doubling for over 60 categories of goods. JD-SW (09618.HK) dipped 0.4%. In addition, KINGDEE INT'L (00268.HK) slipped 2.6%, while chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) escalated 2.6% and 2.8%, respectively. In the automotive sector, GEELY AUTO (00175.HK) and NIO-SW (09866.HK) added 1.6% and 1.9%. BYD COMPANY (01211.HK) and XIAOMI-W (01810.HK) edged 0.7% and 0.9% higher. LEAPMOTOR (09863.HK) slid 2.5%. Battery stock CATL (03750.HK) inclined 0.7%. Auto dealer ZHONGSHENG HLDG (00881.HK) ballooned 2.9%. As for consumer stocks, VIVA GOODS (00933.HK) invested HKD275 million to increase its stake in LI NING (02331.HK), lifting VIVA GOODS' and LI NING's stock price by 22% and 6.8% respectively at midday. AAStocks Financial News |
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