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<H Shrs>HSI Sinks 392 pts at Midday as Techs Retreat; Pharmas, Golds Soar Against Mkt
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The HSI slipped 392 points or 1.7% to 23,156 at midday. The HSCEI fell 151 points or 1.8% to 8,407. The HSTECH dropped 162 points or 3% to 5,284. The total half-day turnover for the market was $133.242 billion. Among tech stocks, BABA-W (09988.HK), KUAISHOU-W (01024.HK), MEITUAN-W (03690.HK), and XIAOMI-W (01810.HK) eroded 3.7-4.2%. TENCENT (00700.HK), BILIBILI-W (09626.HK), and NTES-S (09999.HK) waned 2-2.5%. BIDU-SW (09888.HK) and JD-SW (09618.HK) slid 0.9% and 1.6%, respectively. In addition, WEIMOB INC (02013.HK), KINGSOFT CLOUD (03896.HK), Q TECH (01478.HK), SMIC (00981.HK), and HUA HONG SEMI (01347.HK) lost 3.9-4.5%. BYD ELECTRONIC (00285.HK), SUNNY OPTICAL (02382.HK), FIT HON TENG (06088.HK), and COWELL (01415.HK) tumbled 5.7-7.3%. In contrast, robot maker UBTECH ROBOTICS (09880.HK) surged 6%. In the car sector, BYD COMPANY (01211.HK) ebbed 3.2% to $402.4. LI AUTO-W (02015.HK), XPENG-W (09868.HK), and NIO-SW (09866.HK) cratered 4.2-5.6%, while LEAPMOTOR (09863.HK) defied the market by rising 3.4%. Biotech stocks rallied in US pharma stocks' wake. BEIGENE (06160.HK) and REMEGEN (09995.HK) climbed 4.1% and 6.7%. INNOVENT BIO (01801.HK) and HANSOH PHARMA (03692.HK) rose 2.1% and 3.2%. Meanwhile, gold stocks SD GOLD (01787.HK), CHINAGOLDINTL (02099.HK), and LINGBAO GOLD (03330.HK) also rebounded 2-2.9%. AAStocks Financial News |
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