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HSI Once Swells 500+ Pts After Midday; MEITUAN-W Leaps 7% Pre-Results; CN Consumers in Demand; ROBOSENSE's Turnover Surges
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On the eve of the futures settlement day, the Hong Kong stock market opened mildly higher, ending the midday up 80 points or 0.4% at 19,239. Driven by a surge of over 7% in the heavyweight stock MEITUAN-W (03690.HK) due to speculative buying ahead of the company's quarterly results release this Friday (29th), and the boost from Chinese consumer stocks, the HSI once rocketed 501 points after midday to peak at 19,660. It last printed at 19,608, up 449 points or 2.3%, on a turnover of $122.876 billion. MEITUAN-W reached a peak of $176.8 after midday. It last printed at $176.4, up 7.36%, on a turnover of $6.146 billion. Laser radar and sensing solutions provider ROBOSENSE (02498.HK), which will also announce its results this Friday, soared 32.7% at one point, peaking at $22.4. It was last at $18.8, up 11.37%, with turnover spiking to $841 million. In addition, CHOW TAI FOOK (01929.HK), which announced plans to spend up to $2 billion on share buybacks, SUNNY OPTICAL (02382.HK), ENN ENERGY (02688.HK), and JD-SW (09618.HK) advanced 4.9-6.5% near the market close. Chinese consumer stocks thrived. LI NING (02331.HK), MENGNIU DAIRY (02319.HK), HAIDILAO (06862.HK), CHINA RES BEER (00291.HK), and NONGFU SPRING (09633.HK) swelled 2.5-4%. CLSA predicted that China's consumption will continue to improve next year, especially in 2H25, assuming supportive policies are steadily introduced, while most stock valuations remain cheap. ZJLD (06979.HK), the first listed white liquor stock in Hong Kong, also gained 5.7%. AAStocks Financial News |
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