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<H Shrs>HSI Opens Up 54 Pts; TME-SW Slumps 15%; KB LAMINATES in Selloff
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The HSI opened up 54 points or 0.2% at 25,923. The HSCEI grew 7 points or 0.1% to 8,833. The HSTECH rose 5 points or 0.1% to 5,112. In the tech sector, TENCENT (00700.HK) opened 0.6% lower at HKD546.5. Its Q Claw released a new version with a comprehensive upgrade to WeChat access. TME-SW (01698.HK) slumped 15% to HKD48.62. Its net profit margin guidance fell short of expectations, and its management, as indicated by Daiwa, was cautious when discussing the impact of AI music from Soda Music. JD-SW (09618.HK) and KUAISHOU-W (01024.HK) opened inclining 0.2% and 0.3%. MEITUAN-W (03690.HK) edged up 0.7%. BABA-W (09988.HK) and BIDU-SW (09888.HK) dipped 0.1% and 0.3%. NTES-S (09999.HK) remained flat at HKD186.8. BILIBILI-W (09626.HK) rallied 2.8%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) climbed 0.7% and 2% at open. AI stocks MINIMAX-WP (00100.HK) and KNOWLEDGE ATLAS (02513.HK) ticked up 4.6% and 0.6%. Among other stocks, KB LAMINATES (01888.HK) opened down 7% at HKD21.4. KINGBOARD HLDG (00148.HK) plans to raise over HKD2.7 billion by placing KB LAMINATES shares at an 8.7% discount. KINGBOARD HLDG also ebbed 0.2% to HKD38.6. In contrast, POP MART (09992.HK) shot up 2%. AASTOCKS Financial News |
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