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<H Shrs>HSI Advances 317 pts at Close; JD, MEITUAN & KUAISHOU Rally, while HKEX Surges in Afternoon
Recommend 106 Positive 223 Negative 98 |
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HSI rose 317 points or 1.9% to close at 16,828. HSCEI added 123 points or 2.1% to close at 5,954. HSTECH lifted 112 points or 3.4% to close at 3,449. The total market turnover for the whole day was $116.006 billion. PDD (PDD.US) rocketed 9.4% in the US yesterday. Online shopping platform peer JD-SW (09618.HK) hiked 6.1%, BABA-SW (09988.HK) inclined 2%, while takeaway platform MEITUAN-W (03690.HK) and short-video platform KUAISHOU-W (01024.HK) surged 8% and 8.6%. UBS said PDD is its top pick in the Chinese e-commerce sector, followed by JD, which is expected to deliver a surprise EPS and benefit from share buybacks. BofA Securities forecasted TENCENT (00700.HK)'s annual share buyback to reach $130 billion, compared to the over $100 billion the company previously estimated. TENCENT shares lifted 3.7%. For other tech stocks, BIDU-SW (09888.HK), XIAOMI-W (01810.HK) and BILIBILI-W (09626.HK) advanced 2.3% to 3%. MEITU (01357.HK) and XD INC (02400.HK) ascended more than 5%, while WEIMOB INC (02013.HK) spiked 7.1%. For consumer and domestic demand stocks, LI NING (02331.HK) shares ballooned 5.7% after retail sales revenue grew by low single digits YoY in 1Q. WH GROUP (00288.HK) achieved net profit before biological fair value adjustments of US$301 million in 1Q, surging 73% YoY, and its shares ascended 5.8%. PRADA (01913.HK), HAIDILAO (06862.HK), JIUMAOJIU (09922.HK), CHINA RES BEER (00291.HK), SUNART RETAIL (06808.HK), and YIHAI INTL (01579.HK) advanced 3.7% to 4.6%. EV stocks NIO-SW (09866.HK) and XPENG-W (09868.HK) rallied 5.7% and 3.6%, while GWMOTOR (02333.HK) and LEAPMOTOR (09863.HK) elevated more than 4%. Financials rose, with HSBC HOLDINGS (00005.HK) and STANCHART (02888.HK) inclining 1.3% and 2.3%, HKEX (00388.HK) hiking 4.9% and AIA (01299.HK) rising 1.2%. PING AN (02318.HK) mounted 3%. Local property stocks NEW WORLD DEV (00017.HK) and WHARF REIC (01997.HK) mounted 2.6%. CSRC mulled including REITs in the Stock Connect mechanism, and LINK REIT (00823.HK) swelled 4.1%. GIORDANO INT'L (00709.HK) shares soared 10.1% after David Webb increased his stake by 224,000 shares. CHABAIDAO (02555.HK) closed at $12.8 on its first day of trading, crashing 26.9% from the listing price of $17.5. TJCD (02515.HK), also on its first day of trading, closed at $1.52, cratering 39.2% from the listing price of $2.5. AAStocks Financial News |
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