HSI Declines 329 Points at Midday; Gold Jewelry Stocks Struggle; POP MART Sees Over 4% Recovery
Market Performance: The HSI fell by 329 points (1.3%) to 25,697, with the HSCEI and HSTECH also experiencing declines of 1.4% and 2.1%, respectively, amid a total market turnover of HKD128.142 billion.
Financial Sector Highlights: HSBC Holdings saw a slight increase of 0.3%, while HKEX and AIA dropped by 1.1% and 2.4%, respectively. Pop Mart's stock surged by 4.2% after reporting significant revenue growth.
Gold Sector Decline: Gold prices dropped sharply, leading to declines in several gold mining stocks, including Zijin Gold and Lingbao Gold, which fell by 1.2% and 3.9%, respectively, alongside significant losses for gold jewelry retailers.
Tech Stock Trends: Major tech stocks like Tencent and Alibaba experienced declines of 1.6% to 2.9%, with NTES-S plummeting by 5.2%. Overall, the tech sector faced significant short selling activity.
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HSI Rises by 699 Points, Reaching Highest Level in Over 4.5 Years; Financials, Developers, and Commodity Stocks Lead Gains
Market Performance: The Hong Kong bourse saw significant gains, with the HSI closing at 27,826, up 699 points or 2.6%, marking its highest level in over four and a half years, driven by a decline in the USD Index (DXY).
Sector Highlights: Financials, property developers, and resource stocks performed well, with notable increases in shares of HSBC, BOC Hong Kong, and various Chinese banks, as well as significant gains in property and resource companies.
Gold and Silver Surge: Spot gold prices exceeded USD 5,200, and silver futures rose sharply, with companies like SD Gold and Zijin Gold International seeing substantial increases in their stock prices.
Tech Sector Movements: Major tech stocks such as Tencent, Alibaba, and Meituan experienced moderate gains, while Kuaishou and Bilibili saw sharper increases, reflecting a positive trend in the technology sector.
HSI Rises 598 Points at Midday, Reaching Over 4.5-Year High; Financials, Developers, and Commodities Flourishing
Market Performance: The HSI rose by 598 points (2.2%) to 27,725, with significant gains in the HSCEI and HSTECH, while total market turnover reached HKD196.327 billion.
Financial Stocks Surge: Major financial stocks like HSBC, BOC Hong Kong, and Standard Chartered saw increases of 2.1% to 2.9%, contributing to a positive trend in the financial sector.
Property and Resource Stocks Rally: Hong Kong developers and Chinese developers experienced substantial gains, with some stocks like China Jinmao and Greentown China rising by over 6%, while resource stocks also saw significant increases.
Tech and AI Stocks Growth: Tech stocks such as Tencent and JD-SW gained between 1.5% and 2.4%, while AI-related stocks like SenseTime and Unisound saw notable increases, with Unisound jumping by 38.2%.
