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<H Shrs>HSI Opens 197 pts Lower as TENCENT Weakens Post-results
Recommend 5 Positive 3 Negative 3 |
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The HSI opened 197 points or 1% lower at 19,626. The HSCEI opened 84 points or 1.2% lower at 7,046. The HSTECH opened 67 points or 1.5% lower at 4,388. TENCENT (00700.HK)'s 3Q24 non-IFRS earnings rose 33%, beating estimations, and expected full-year buyback amount to exceed its $100 billion target. TENCENT slid 0.5% to $401.6 along with the market, while ALI HEALTH (00241.HK) ebbed 0.2% to $4.16 as its interim net profit rose 73%. For other techs, BABA-W (09988.HK), XIAOMI-W (01810.HK), NTES-S (09999.HK) and KUAISHOU-W (01024.HK) dropped 1.4-1.7%, while JD-SW (09618.HK), MEITUAN-W (03690.HK) and BILIBILI-W (09626.HK) lost 2-2.5%. BIDU-SW (09888.HK) fell 0.8%. For car makers, GEELY AUTO (00175.HK) and LI AUTO-W (02015.HK) slipped 1.1% and 1.5%, while XPENG-W (09868.HK) shed 2.9%. BYD COMPANY (01211.HK) inched up 0.7%. For Chinese consumers, HAIER SMARTHOME (06690.HK), LI NING (02331.HK) and NONGFU SPRING (09633.HK) faded 2-2.4%, while casinos SANDS CHINA LTD (01928.HK) and export stock TECHTRONIC IND (00669.HK) waned 2.4% and 3.1%. AAStocks Financial News |
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