HSI Opens Down 3 pts as AIA, HSBC HOLDINGS Remain Soft; WHARF REIC 2%+ Higher
AASTOCKS News·- Following overnight declines in US stocks, the Hang Seng Index opened slightly lower at 25,526 down 3 points amid mixed performances across major technology and blue-chip stocks. - AIA and HSBC Holdings opened down 0.82% and 0.25% respectively, with AIA pressured by tax rumors and HSBC resuming share buybacks. - Wharf REIC gained over 2% due to strong earnings support, while Pacific Basin surged nearly 5% following a more than threefold increase in interim profit.HSI Drops 452 pts at Midday; AIA Plunges Nearly 9%, HSBC HOLDINGS Continues to Slide Over 2%; MINIMAX-W Rises 16% Against Market Trend; Recent IPO ZJ INNOLIGHT Hits Record High
AASTOCKS News·- The Hang Seng Index closed down 452 pts or 1.75 % at 25,463 at midday on August 6th, driven by broad declines in insurance and major tech stocks amid reports of a 20 % personal income tax on offshore insurance proceeds. - Insurance giants AIA and HSBC plunged 8.75 % and 2.28 % respectively, while local property stocks and solar shares also suffered sharp losses due to market sentiment and potential US tariff concerns. - Conversely, newly connected AI concept stock MINIMAX-W surged 16.15 %, and recent IPO ZJ INNOLIGHT hit a record high of HKD 1,249 before closing up 5.47 %.HSI Opens Down 248pts as AIA Slumps Over 6%, HSBC HOLDINGS Falls Over 1%; Gold Stocks Sought After
AASTOCKS News·- The Hang Seng Index opened 248 points lower at 25,667, driven by declines in major insurance stocks following reports of China imposing a 20 percent personal income tax on offshore policy gains. - Insurance giants faced heavy selling pressure with AIA slumping over 6 percent and HSBC Holdings falling more than 1 percent. - Meanwhile, spot gold surged past USD 4,200 to hit a near two-month high, prompting strong gains across gold stocks like Zijin Mining and Laopu Gold.