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<H Shrs>HSI Drops 420 Pts at Midday as Airlines/ HK Banks Subtract; XINYI GLASS Surges 11%
Recommend 4 Positive 1 Negative 4 |
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Hong Kong stocks declined alongside external market. The HSI shed 420 points or 1.6% to 26,209 at midday. The HSCEI dropped 120 points or 1.4% to 8,738. The HSTECH faded 107 points or 2.1% to 5,030. Total half-day turnover of the market amounted to $193.503 billion. Oil prices inclined significantly, boosting CNOOC (00883.HK) by 3.8%. CHINA OILFIELD (02883.HK) swelled 6.6%. Among energy transport stocks, COSCO SHIP ENGY (01138.HK) mounted 3.4%. Gold prices rose, driving ZHAOJIN MINING (01818.HK) up by 2.1%. Due to disruptions to Middle East routes, airlines CHINA SOUTH AIR (01055.HK) and CHINA EAST AIR (00670.HK) descended 8.5% and 7%, while AIR CHINA (00753.HK) and CATHAY PAC AIR (00293.HK) shrank 4.9% and 2.9%. Duty-free shop operator CTG DUTY-FREE (01880.HK) cratered 3.5%. The USD ascended, denting Chinese developers SUNAC (01918.HK) and CHINA VANKE (02202.HK) by 6.4% and 4%. CHINA JINMAO (00817.HK) stumbled 3.1%. Financials fell, with HSBC HOLDINGS (00005.HK), BOC HONG KONG (02388.HK), and STANCHART (02888.HK) losing 3.5-4.3%. HKEX (00388.HK) and AIA (01299.HK) sagged 1.2% and 2.3%. For Chinese banks, ABC (01288.HK) cascaded 2.6%. Chinese insurers CPIC (02601.HK), CHINA LIFE (02628.HK) and ZA ONLINE (06060.HK) eroded 2.6-3.6%, while brokers CGS (06881.HK) and GF SEC (01776.HK) receded over 3%. XINYI GLASS (00868.HK) surged 11.4%, although its 2025 net profit fell 19% to RMB2.729 billion, and its final dividend increased to $21.5 cents. CICC noted XINYI GLASS' declining debt ratio reflects sustained high-quality operations. XINYI SOLAR (00968.HK) reported a net profit of RMB845 million last year, down about 16%, with a dividend of $0.8 cents, dragging down its stock price by 2.9%. FOSUN INTL (00656.HK) slumped 1.3% along with the market as it planned to repurchase shares worth no more than $1 billion following 2025 results release. NEW WORLD DEV (00017.HK) narrowed its interim loss to $3.73 billion, denting its share price by 6.9%. Macau's February GGR rose 5% YoY. Casino GALAXY ENT (00027.HK) dipped 2.3% alongside with the market. AAStocks Financial News Website: www.aastocks.com |
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