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<H Shrs>HSI Climbs 111Pts at Midday; CN Financials & Casinos Soar; Some Pharmas Slip
Recommend 115 Positive 185 Negative 75 |
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During Chinese Vice Premier He Lifeng’s visit to Switzerland for talks with U.S. Treasury Secretary Scott Bessent, the People’s Bank of China (PBOC) announced a 0.5 ppt cut in the reserve requirement ratio (RRR) and a 0.1 ppt reduction in policy interest rates. Hong Kong stocks elevated in the morning session, with the HSI opening 507 points higher and peaking at 23,197, up 534 points, before paring gains. By midday, the HSI added 111 points or 0.5% to 22,773. The HSCEI gained 20 points or 0.3% to 8,282. The HSTECH dipped 11 points or 0.2% to 5,227. Midday market turnover reached HKD148.019 billion. Among techs, MEITUAN-W (03690.HK) inched up 1.2%. BIDU-SW (09888.HK) and NTES-S (09999.HK) hiked less than 1%. TENCENT (00700.HK), SMIC (00981.HK), KUAISHOU-W (01024.HK) and BILIBILI-W (09626.HK) sagged less than 1%. BABA-W (09988.HK) shed 1.4%. XIAOMI-W (01810.HK), KINGDEE INT'L (00268.HK), and MEITU (01357.HK) slipped 2.3%-2.6%. KINGSOFT CLOUD (03896.HK) and HORIZONROBOT-W (09660.HK) dived 3.5% and 5.1%, respectively. TME-SW (01698.HK) rallied 4.3%. Several pharmaceuticals waned with WUXI APPTEC (02359.HK), GENSCRIPT BIO (01548.HK), AKESO (09926.HK), and INNOCARE (09969.HK) sliding 3.4%-4.4%. INNOVENT BIO (01801.HK), WUXI BIO (02269.HK), REMEGEN (09995.HK), and BEIGENE (06160.HK) plunged 5.2%-7.2%. Macau gaming stocks drifted higher, with MELCO INT'L DEV (00200.HK) up 2.7%, and WYNN MACAU (01128.HK), SANDS CHINA LTD (01928.HK), and GALAXY ENT (00027.HK) up 1.9%-2.2%. Chinese financials fared robustly, with CCB (00939.HK), BANK OF CHINA (03988.HK), ICBC (01398.HK), and CHINA LIFE (02628.HK) swelling over 2%. AAStocks Financial News |
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