I'm LongbridgeAI, I can summarize articles.The Hong Kong stock market fell 98 points to 23,517 points in the half-day session, with the Hang Seng Index retreating after touching the 20-day moving average. The news of Tencent selling its KUAISHOU shares caused KUAISHOU's stock price to plummet nearly 9.5%, while Tencent, Meituan, and other tech stocks rose against the trend. The semiconductor sector showed divergence, with SMIC declining and Lenovo Group rebounding. SK Hynix plans to list on the US stock market, triggering a significant sell-off of related concept stocks
According to the Economic News Agency on the 7th, the US stock market is performing well, and after three consecutive rises, the Hong Kong stock market saw a pause this morning. The Hang Seng Index opened lower but then rose, reaching a high of 23,820 points, touching the 20-day moving average (approximately 23,794). Afterward, profit-taking sentiment emerged, leading to a decline again, closing at 23,517, down 98 points or 0.4%, with a turnover of over HKD 187 billion. The Hang Seng China Enterprises Index reported 7,779, down 33 points or 0.4%. The Hang Seng Tech Index reported 4,528, down 12 points or 0.3%.
KUAISHOU (01024) has learned that TENCENT (00700) sold approximately 273 million Class B shares through an over-the-counter block trade yesterday, involving 6.31% equity. Previous reports indicated that TENCENT could cash out about HKD 12.16 billion, and there is a 90-day lock-up period for the remaining shares. KUAISHOU fell 9.48% to HKD 41.64, while TENCENT rose 2.83% to HKD 464.8, marking a six-day consecutive rise with a cumulative increase of 12.87%.
In other tech stocks, MEITUAN (03690) rose 4.34% to HKD 78.2, marking a six-day consecutive rise with a cumulative increase of 21.71%. ALIBABA (09988) rose 0.99% to HKD 96.9, BAIDU (09888) fell 0.18% to HKD 110.3, and XIAOMI (01810) rose 0.69% to HKD 23.44.
The Philadelphia Semiconductor Index rebounded, and LENOVO GROUP (00992) followed with a rebound of 2.64% to HKD 21. HUA HONG (01347) rose 0.73% to HKD 179.3, but SMIC (00981) fell 3.17% to HKD 73.35.
In the Apple-related stocks, BYD ELECTRONICS (00285) fell 4.97% to HKD 20.28, and SUNNY OPTICAL (02382) fell 0.99% to HKD 55.15.
South Korean chip giant SK Hynix is expected to be listed on the NASDAQ in the United States on Friday (10th). SK Hynix's stock price in Korea has been under pressure, with XL2 CSOP HYNIX (07709) plummeting 19.41% to HKD 87.6, and XL2 CSOP SAMSUNG (07747) also dropping 19.36% to HKD 118.95. Other AI concept stocks are being sold off continuously, with LANQI TECHNOLOGY (06809) down 10.49% to HKD 332.6, CHANGFANG FIBER OPTIC CABLE (06869) down 9.85% to HKD 154.6, KANDAO LAMINATED BOARD (01888) down 8.87% to HKD 67.3, KANDAO GROUP (00148) down 7.51% to HKD 82.5, and SHENGHONG TECHNOLOGY (02476) down 7.06% to HKD 252.8.
This week, the stocks that are being unlocked are performing differently. ZHIPU (02513) and TIANSU ZHIXIN (09903) will end the lock-up period for IPO cornerstone investors today. ZHIPU rose 4.97% to HKD 1,606 before the unlock, with a total of 25.6816 million shares set to be unlocked tomorrow, accounting for 5.84% of the issued shares Tianshu Zhixin fell 2.5%, closing at HKD 565, while MiniMax (00100) closely followed, set to have its restrictions lifted on Thursday (9th), with the stock currently down 2.33%, at HKD 327.2.
The top three traded stocks in the Hang Seng Index, National Index, and Tech Index are Tencent, KUAISHOU, and SMIC. (ey)