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<H Shrs>HSI Elevates 100 pts at Midday as LI AUTO Leaps 5%; CN Financials Hike
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Hong Kong stocks developed individually in the first trading day of 2H24. The HSI added 100 points or 0.57% to 17,819 at midday. The HSCEI hiked 60 points or 0.95% to 6,392. The HSTECH shed 5 points or 0.14% to 3,549. Total half-day turnover for the market amounted to $68.617 billion. Autos disclosed their deliveries in June. Morgan Stanley said that the 2Q24 sales of LI AUTO-W (02015.HK), XPENG-W (09868.HK), ZEEKR Intelligent Technology Holding Limited (ZK.US) and BYD COMPANY (01211.HK) were largely in line with expectations, while that of NIO-SW (09866.HK) beat expectations. Of which, LI AUTO-W advanced 5.4% at midday as its new car delivery for June was 47,700, representing a YoY incline of 46.7%. XPENG-W leaped 2% after delivering 10,700 EVs in June, up 24% YoY. BYD COMPANY dropped 1.4%, with NEV sales of 341,600 in June, up 35% YoY. For financials, HSBC HOLDINGS (00005.HK) picked up 0.1%. HKEX (00388.HK) is said to be soft consulting the industry on the improvement in IPO pricing, or reviewing the public offering claw back mechanism and restrictions on prohibited sales of base investment. HKEX's share price was flat at $250.2 at midday, while AIA (01299.HK) fell 0.2%. Chinese financials PING AN (02318.HK) and CHINA LIFE (02628.HK) gained nearly 3% and 2.4%, while ICBC (01398.HK), CM BANK (03968.HK) and CCB (00939.HK) mounted 1.9-3%. AAStocks Financial News |
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