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<H Shrs>HSI Opens 149 pts Lower as BABA-W, MEITUAN-W Subtract; Chips Rally Against Trend
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The HSI opened 149 points or 0.7% lower at 21,316. The HSCEI dipped 71 points or 0.9% to 7,911. The HSTECH dropped 72 points or 1.5% to 4,908. As the US has restricted Nvidia (NVDA.US)'s H20 chip exports to China, chip autonomy concepts SMIC (00981.HK) and HUA HONG SEMI (01347.HK) opened up 2.4% and 2.7%. It is reported that XIAOMI-W (01810.HK) has established a chip platform department, yet its stock price fell 1.4% to $42.5. Among other tech stocks, BABA-W (09988.HK) and MEITUAN-W (03690.HK) opened down 2.6% and 2.5%. TENCENT (00700.HK), NTES-S (09999.HK), and BILIBILI-W (09626.HK) faltered 1.2-1.7%. JD-SW (09618.HK), BIDU-SW (09888.HK), and KUAISHOU-W (01024.HK) sank 2.1%. SUNNY OPTICAL (02382.HK) and BYD ELECTRONIC (00285.HK) waned 1.2% and 1.7%. Car makers GEELY AUTO (00175.HK) and XPENG-W (09868.HK) opened 1.8% and 3.7% lower, while BYD COMPANY (01211.HK) remained flat at $375.4. As gold prices hit a new high, SD GOLD (01787.HK) and ZHAOJIN MINING (01818.HK) soared 4.2% and 3.4% at open. ZIJIN MINING (02899.HK) also escalated 1.3%. AAStocks Financial News |
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