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<H Shrs>HSI Dips 23 Pts at Close; Pharmas, Autos Lackluster; TENCENT Steady Pre-Results
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The HSI concluded the day down 23 points, or 0.12%, at 19,823, marking a four-day losing streak. The HSCEI rose 3 points, or 0.05%, to close at 7,130. The HSTECH dipped 1 point to close at 4,455. The total market turnover for the day was $184.618 billion. In the tech sector, TENCENT (00700.HK) is set to announce its results after the market close. Its stock price was flat at $403.8. Under same series, TME-SW (01698.HK) reported a 28.8% growth in 3Q non-IFRS net profit attributable to shareholders to RMB1.81 billion, yet its stock price still shed 5.6% for the day. Set to announce its results tomorrow, JD-SW (09618.HK) closed slipping 1.6%. BABA-W (09988.HK) remained intact at $90.55. MEITUAN-W (03690.HK), BIDU-SW (09888.HK), and NTES-S (09999.HK) edged down 0.2-0.5%. TRIP.COM-S (09961.HK) dropped 2.8%. On the contrary, KUAISHOU-W (01024.HK) spiked 3.9% on the ride of its Kuaishou Ecommerce seizing over 7 million new paying users during the "Double 11" period. LENOVO GROUP (00992.HK) also saw its "Double 11" sales exceed RMB8.6 billion. Its stock price soared 2.4% for the day. XIAOMI-W (01810.HK) gained 1.6% with its 100,000th Xiaomi SU7 rolling off the production line and reports suggesting that the company plans to release a new generation of AI glasses in 2Q25. WUXI APPTEC (02359.HK) tumbled 4.1%, making it the worst-performing blue chip, while its same series WUXI BIO (02269.HK) also sank 3.4%. For other pharmas, SINOPHARM (01099.HK) and CSPC PHARMA (01093.HK) both sagged 1.7%. SINO BIOPHARM (01177.HK) and HANSOH PHARMA (03692.HK) fell 0.9% and 1.5% respectively. GEELY AUTO (00175.HK) lost 1.8% as the company strongly denied the sale of its shares in Volvo Cars. Moreover, its parent company intended to lead a consortium to buy a majority stake in German air cab firm Volocopter. Among other car stocks, BYD COMPANY (01211.HK) inched up 0.4% as its "BYD SEALION 7" was officially launched in Europe, while it planned to formally dabble into the South Korean market in early 2025. XPENG-W (09868.HK) cratered 4.5% with reports saying that its Xpeng G6 has been officially launched and delivered in Nepal. NIO-SW (09866.HK) waned 4.2%. LI AUTO-W (02015.HK) declined 1.9% as Li L6 deliveries exceeded 150,000 units in 7 months of its launch. LEAPMOTOR (09863.HK) receded 0.9%. AAStocks Financial News |
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