HK Midday: Hang Seng Down 64 Pts; Meituan Tumbles Pre-Earnings, Kingboard Soars
Market Pulse·
- On August 25 morning close, Hong Kong stocks fell collectively, with the Hang Seng Index down 64 points to 25 453 points and a turnover of about 126 7 billion HKD.
- Major movements included Kingboard Holdings and Kingboard Laminates soaring over 10 % and 11 % following positive interim results, while Meituan plunged nearly 6 % ahead of its earnings report.
- Property stocks rebounded across the board with Country Garden rising nearly 6 %, whereas gold stocks declined collectively due to falling international gold prices.