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<H Shrs>HSI Fades 327 pts at Close as NEW ORIENTAL Dips 24%; COUNTRY GARDEN Shrinks 15%
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The HSI lost 327 points or 1.6% to close at 19,778. The HSCEI shed 143 points or 2% to close at 7,177. The HSTECH sagged 112 points or 2.4% to close at 4,581. The total market turnover for the day amounted to $135.317 billion. NEW ORIENTAL-S (09901.HK) plunged 24.2% after Morgan Stanley said its quarterly results missed, and its quarterly outlook was weaker than its full-year guidance. EAST BUY (01797.HK) cascaded 2.3% after it swung profit into a loss of RMB96.8 million during the interim period. ZENGAME (02660.HK) tumbled 12.8% as it expected to make 35-45% less profit for the year. Chinese developers retreated. LONGFOR GROUP (00960.HK) and SUNAC (01918.HK) cratered 3.9% and 4.2%, while R&F PROPERTIES (02777.HK), SINO-OCEAN GP (03377.HK), SEAZEN (01030.HK) and CIFI HOLD GP (00884.HK) eroded 4.8-5.5%. AGILE GROUP (03383.HK) and KWG GROUP (01813.HK) slumped 9% and 9.2%, while COUNTRY GARDEN (02007.HK) collapsed 14.9%. Hong Kong homebuilder NEW WORLD DEV (00017.HK) opened higher before weakening, and descended 6% at close as banks reportedly agreed to relax some loan terms related to debt ratio. AAStocks Financial News |
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