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<H Shrs>HSI Opens 324 Pts Lower Despite Oil & Gold Stock Rally
Recommend 2 Positive 2 Negative 6 |
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The HSI opened 324 points or 1.2% lower at 26,305. The HSCEI dropped 88 points or 1% to 8,771. The HSTECH fell 91 points or 1.8% to 5,046. Following the oil price surges, SINOPEC CORP (00386.HK), PETROCHINA (00857.HK), and CNOOC (00883.HK) opened up 2.4%, 5.9%, and 5.1%. Energy transportation stock COSCO SHIP ENGY (01138.HK) also leaped 11%. The main contract of China's Containerized Freight Index (Europe Route) futures once hit the day's limit. Shipping stocks OOIL (00316.HK) and COSCO SHIP HOLD (01919.HK) advanced 2.1% and 3% at open. Rising gold prices resulted in a gold stock rally, with SD GOLD (01787.HK) and ZHAOJIN MINING (01818.HK) opening 3.9% and 3.2% higher. CHINAGOLDINTL (02099.HK) gained 3.4%. ZIJIN MINING (02899.HK) escalated 2.5%. Among tech stocks, TENCENT (00700.HK) and JD-SW (09618.HK) opened inclining 1.3% and 1.4%. BABA-W (09988.HK), MEITUAN-W (03690.HK), KUAISHOU-W (01024.HK), and BIDU-SW (09888.HK) shed 1.8-2.5%. NTES-S (09999.HK) edged up 0.4%. Chip stocks SMIC (00981.HK) and HUA HONG SEMI (01347.HK) lost 2.1% and 2.8%. In the automotive sector, BYD COMPANY (01211.HK), XIAOMI-W (01810.HK), and LEAPMOTOR (09863.HK) receded 2-2.4% at open. NIO-SW (09866.HK) and XPENG-W (09868.HK) plunged 4% and 3.2%. AAStocks Financial News |
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