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<H Shrs>HSI Opens 157 pts Lower as Autos Slip; YUM CHINA Advances 5%+
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Hong Kong stocks opened lower in the morning session. The HSI opened 157 points or 0.8% lower at 20,409. The HSCEI opened 64 points or 0.9% lower at 7,303. The HSTECH opened 46 points or 1% lower at 4,486. Automakers retreated. GEELY AUTO (00175.HK) and LI AUTO-W (02015.HK) sagged 2.1% and 2.4%, while BYD COMPANY (01211.HK) and XPENG-W (09868.HK) lost 1% and 1.3%. For financials, HSBC HOLDINGS (00005.HK) and HKEX (00388.HK) inched up 0.1%, while AIA (01299.HK) ebbed 1.2%. Oil prices rose over 2%. CNOOC (00883.HK) lifted 1.1%. YUM CHINA (09987.HK) advanced 5.7% to $381 after reporting quarterly results announcing a plan to raise capital returns to shareholders by 50% over the 3-year period from 2024-2026. SUNAC (01918.HK) jumped up 2.4% to $2.93 on rumors that it is in the process of communicating on a plan to reorganize its domestic debt for the second time, with a final plan expected by the end of November. AAStocks Financial News |
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