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<H Shrs>HSI Surges 177 Pts at Midday; BABA-W, JD-SW Rally; Stablecoin Concept Stocks Rattle
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The HSI settled the midday up 177 points or 0.7% at 24,676. The HSCEI rose 69 points or 0.8% to 8,922. The HSTECH grew 41 points or 0.8% to 5,490. The total market turnover for the half-day was HKD136.05 billion. Among tech stocks, JD-SW (09618.HK) rallied 2.5% after denying participation in a "zero-yuan purchase" food delivery war. BABA-W (09988.HK) and MEITUAN-W (03690.HK) gained 2.2% and 1.4%. In addition, TENCENT (00700.HK) inched up 0.6% to HKD520. NTES-S (09999.HK) and NEW ORIENTAL-S (09901.HK) swelled 1.6% and 2%. BILIBILI-W (09626.HK) leaped 3.1%. KUAISHOU-W (01024.HK) and BIDU-SW (09888.HK) edged 0.5% and 0.2% higher. SMIC (00981.HK) dipped 0.2%. EAST BUY (01797.HK) and KINGSOFT CLOUD (03896.HK) also rocketed 11.7% and 10.3%, while KINGDEE INT'L (00268.HK) and MEITU (01357.HK) hiked 4.9% and 4.3%. Tesla announced its six-seat Model Y L will launch in China this fall. The market continued to anticipate the sales of NIO-SW (09866.HK)'s Onvo L90, lifting the company's stock price by 4.3%. BYD COMPANY (01211.HK) and XIAOMI-W (01810.HK) added 0.6% and 0.2%. GCL TECH (03800.HK) plans to explore RWA tokenization solutions with CPIC Investment Management, elevating its stock price by 14.5% at open. It concluded the midday up 1.6%, with a turnover of HKD2.18 billion. CPIC (02601.HK) also surged 5.3%. Among other stablecoin concept stocks, HAO TIAN INTL (01341.HK) surged 17% at midday, with a turnover of over HKD2 billion. GUOTAI JUNAN I (01788.HK) lost 0.9%, with a turnover of HKD1.46 billion. AAStocks Financial News |
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