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<H Shrs>HSI Closes Up 102 pts; Gold & Silver Stocks Advance, as CN Property Stocks Retreat
Recommend 118 Positive 240 Negative 139 |
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Hong Kong stocks rallied for ten consecutive days. HSI advanced 102 points or 0.6% to close at 18,578. HSCEI elevated 25 points or 0.4% to close at 6,572 points. HSTECH increased 36 points or 0.9% to close at 4,007. The total market turnover for the whole day was $144.486 billion. As for car stocks, BYD COMPANY (01211.HK) proposed to offer car purchase discounts of up to RMB18,000 for all models of its Dynasty series, and its share price fell 0.2% to $226. Peers XPENG-W (09868.HK) and LEAPMOTOR (09863.HK) waned 3.2% and 4.6%. GEELY AUTO (00175.HK) subsidiary Zeekr will go public in the US, and GEELY intends to spend US$320 million to subscribe for its shares. GEELY slumped 0.7%. LI AUTO-W (02015.HK) saw the cumulative orders for its Li L6 topping 41,000 units during 3 weeks of sale, and its shares hiked 6.1%. In tech stocks, TENCENT (00700.HK) elevated 1.6% to $370.2, while BABA-SW (09988.HK), MEITUAN-W (03690.HK), JD-SW (09618.HK) and BIDU-SW (09888.HK) increased 0.4% to 0.6%, while XIAOMI-W (01810.HK) and KUAISHOU-W (01024.HK) decreased 0.4%. BILIBILI-W (09626.HK) and NTES-S (09999.HK) climbed 1.4% and 2.3%, while SENSETIME-W (00020.HK) lifted 5%. KINGSOFT CLOUD (03896.HK) and EAST Buy (01797.HK) waned more than 3%. Foxconn's April revenue hit a historic high for all Aprils, and mobile phone-related stocks were boosted. BYD ELECTRONIC (00285.HK) elevated 4%, while COWELL (01415.HK) and FIH (02038.HK) surged 6.7% and 8.3%. The market is concerned about Shenzhen's possible relaxation of housing purchase restrictions. However, Chinese property stocks retreated. KWG GROUP (01813.HK) crashed 8.1%, SUNAC (01918.HK), SINO-OCEAN GP (03377.HK) and AGILE GROUP (03383.HK) crumpled 6.3% to 7.2%, and YUEXIU PROPERTY (00123.HK), CHINA OVERSEAS (00688.HK) and CHINA VANKE (02202.HK) fell more than 4%. Property manager CG SERVICES (06098.HK) descended 4.3%. Expectations of interest rate cuts boosted gold and silver stocks, with SD GOLD (01787.HK) and CHINAGOLDINTL (02099.HK) rallying 4.9% and 5.2%, ZHAOJIN MINING (01818.HK) rising 3.6%, and CHI SILVER GP (00815.HK) rocketing 8.9%. AAStocks Financial News |
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