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<H Shrs>HSI Wanes 270 Pts at Midday; NEW ORIENTAL-S Plummets 25%; JD-SW Dips 4%+
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The HSI concluded the midday down 270 points or 1.3% at 19,836. The HSCEI dropped 116 points or 1.6% to 7,204. The HSTECH slipped 92 points or 2% to 4,601. The total market turnover at midday amounted to $78.341 billion. NEW ORIENTAL-S (09901.HK) sank 25% at midday. Morgan Stanley remarked that the company's quarterly results were below expectations and its quarterly outlook was weaker than its full-year guidance. EAST BUY (01797.HK) slid 3% as its interim profit turned into a loss of RMB96.8 million. ZENGAME (02660.HK) expected a 35-45% decrease in its full-year profit, sinking its stock price by 10.9%. Among other tech stocks, TENCENT (00700.HK) fell 1.2%. BIDU-SW (09888.HK) and NTES-S (09999.HK) dipped 1.8% and 1.9%. BABA-W (09988.HK), MEITUAN-W (03690.HK), and KUAISHOU-W (01024.HK) lost 2.7-3.3%. JD-SW (09618.HK) and BILIBILI-W (09626.HK) waned 4.4% and 6.2%. XIAOMI-W (01810.HK) edged down 0.4% to $35.75. SMIC (00981.HK) climbed 2.4% to $42.9, hitting an around four-and-a-half-year high of $43.8 during the intraday trading session. In addition, GDS-SW (09698.HK), WEIMOB INC (02013.HK), ALI HEALTH (00241.HK), and KINGSOFT CLOUD (03896.HK) eroded 3.5-4.2%. In the automotive sector, XPENG-W (09868.HK), LI AUTO-W (02015.HK), GWMOTOR (02333.HK), and GEELY AUTO (00175.HK) descended 2.5-3%. Goldman Sachs reduced its earnings forecast for NIO-SW (09866.HK). NIO-SW's stock price sank 4.7%. Tourism-related stocks performed weaker, with airline stocks CHINA SOUTH AIR (01055.HK), CHINA EAST AIR (00670.HK), and AIR CHINA (00753.HK) sagging 3.3-3.9%. In financial stocks, HSBC HOLDINGS (00005.HK) inched up 0.5% to $79.25, while HKEX (00388.HK) and AIA (01299.HK) edged down 0.1% and 1.1%. CM BANK (03968.HK), PING AN (02318.HK), PICC GROUP (01339.HK), CPIC (02601.HK), and ZA ONLINE (06060.HK) cratered over 2%. AAStocks Financial News |
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