The Hang Seng Index fell 63 points in the half-day session, resource stocks surged, Jiangxi Copper rose by 5%, and Zijin Mining increased by 2.3% | Hong Kong stock market opens
The Hang Seng Index fell 63 points in the half-day session, with resource stocks performing strongly; Jiangxi Copper rose 5.35%, and Zijin Mining rose 2.34%. Technology stocks showed mixed performance, with Tencent down 0.81% and JD.com up 0.17%. Shenzhou International was downgraded by a brokerage, resulting in a 4.12% drop in its stock price. Both Yujian Xiaomian and Tianyu Semiconductor debuted today, with their stock prices down 27.2% and 24.96% respectively compared to their offering prices. The three major U.S. stock indices closed steady on Thursday, with the S&P 500 and Nasdaq rising for three consecutive days
The Hong Kong stock market is hovering around the 25,800 point level, with the Hang Seng Index opening down 102 points this morning, falling as much as 177 points, and narrowing the decline to 30 points near noon. It closed at 25,872 points, down 63 points or 0.25%, with a turnover of HKD 81.659 billion.
Meituan, JD.com, and Taobao Flash Sale Implement Takeaway Platform Requirements
The Tech Index closed at 5,604 points, down 11 points or 0.2%. Tech stocks showed mixed performance, with Tencent (700) down 0.81%; Alibaba (9988) down 0.32%; Meituan (3690) down 0.91%; JD.com (9618) up 0.17%. Meituan, JD.com, and Taobao Flash Sale all stated they would voluntarily implement the State Administration for Market Regulation's "Basic Requirements for Takeaway Platform Service Management." Xiaomi (1810) and Baidu (9888) rose 1.47% and 1.12%, respectively.
Resource stocks performed well, with Jiangxi Copper (358) up 5.35%; Aluminum Corporation of China (2600) up 4.32%; Luoyang Molybdenum (3993) up 3.36%; Zijin Mining (2899) up 2.34%, with its subsidiary Zijin Gold International (2259) up 1.24%; China Hongqiao (1378) up 1.33%.
Ping An (2318) rose 2.73%, making it the best-performing blue chip, while its peer China Taiping (966) rose 2.11%; Taikang (2601) rose 0.63%; China Life (2628) rose 0.29%.
Shenzhou Faces Citi Downgrade, Half-Day Drop of 4%
Shenzhou International (2313) was downgraded by Citi, with the target price lowered from HKD 95 to HKD 94, maintaining a "Buy" rating. Shenzhou dropped 4.12% in the half-day.
Yujian Xiaomian (2408) and Tianyu Semiconductor (2658) were listed today. Yujian Xiaomian closed at HKD 5.12, down 27.2% from the offering price of HKD 7.04. Tianyu Semiconductor reported HKD 43.52, down 24.96% from the offering price of HKD 58.
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0930: The three major U.S. stock indices closed steady on Thursday, with the S&P 500 and Nasdaq rising for three consecutive days. The S&P 500 rose 7 points or 0.11%, closing at 6,857 points. The Nasdaq rose 51 points or 0.22%, closing at 23,505 points. The Dow Jones fell 31 points or 0.07%, closing at 47,850 points. The Golden Dragon Index, which reflects the performance of Chinese concept stocks, rose 0.39%, closing at 7,731 points.
Meta reportedly cut its "metaverse" project budget by 30%, including layoffs starting in January next year, closing up 3.43%. NVIDIA rose 2.16%, Tesla rose 1.73%, Microsoft rose 0.65%, Alphabet fell 0.63%, Apple fell 1.29%, and Amazon fell 1.41%.
Hassett Expects Fed Rate Cut in This Month's Meeting
The U.S. Department of Labor announced that for the week ending November 29, the number of initial unemployment claims was 191,000, lower than the expected 220,000, a decrease of 27,000 from the previous week. Hassett, rumored to be a strong candidate for the next Federal Reserve Chair and the Director of the National Economic Council at the White House, stated that the Fed may cut rates at its next meeting, expecting a reduction of 0.25% In the Hong Kong stock market, the Hang Seng Index opened down 102 points, reporting at 25,833 points. Technology stocks generally fell, with Tencent (700) down 1.14%; Alibaba (9988) down 0.77%; Meituan (3690) down 0.51%; Xiaomi (1810) down 0.66%; and JD.com (9618) down 0.94%.
Yuejian Xiaomian (2408) and Tianyu Semiconductor (2658) were listed today, both diving. Yuejian Xiaomian opened at HKD 5, which is 28.9% lower than the offering price of HKD 7.04. Tianyu Semiconductor opened at HKD 38, which is 34.48% lower than the offering price of HKD 58.
Regarding the northbound capital flow, there was a net purchase of HKD 1.48 billion in Hong Kong stocks yesterday. The Tracker Fund of Hong Kong (2800), WuXi Biologics (2269), and Xiaomi (1810) saw net purchases of HKD 2.606 billion, HKD 316 million, and HKD 232 million, respectively; while Tencent (700), SMIC (981), and Kuaishou (1024) experienced net sales of HKD 1.346 billion, HKD 458 million, and HKD 93.72 million, respectively
