Economic Information Daily News Service, 13th: Russia continues airstrikes on Ukraine, raising market doubts about the effectiveness of the so-called "energy ceasefire" claimed by U.S. President Trump. Meanwhile, tensions in the Middle East persist, with Saudi Arabia suffering consecutive two-day attacks by Yemen's Houthi militants over the weekend. Amid unstable geopolitical conditions, Asian stocks fell broadly this morning, with Japanese and Taiwanese markets dropping nearly 2%, and South Korean stocks plunging by half a percent. However, A-shares turned upward in the afternoon, driving the Hong Kong market to recover, with the Hang Seng Index currently at 24,285, up 13 points or less than 0.1%, and main board turnover nearing HK$122.3 billion. The Hang Seng China Enterprises Index stands at 8,163, down 5 points or less than 0.1%. The Hang Seng Tech Index is at 4,130, down 38 points or 0.9%.
Financial stocks lead the gains, with HSBC (00005) up 1% at HK$149.6; AIA (01299) up 1% at HK$72.6; and Bank of China Hong Kong (02388) up 2.1% at HK$51.65.
Citi issued a research report reaffirming its forecast of MOP 25 billion in October gaming revenue, averaging MOP 806 million per day, representing a 4% year-on-year increase. The brokerage resumed coverage on gaming stocks, with all casino stocks rising: Galaxy Entertainment (00027) up 3.5% at HK$32.72; Sands China (01928) up 2.9% at HK$11.37.
With doubts over a Russia-Ukraine ceasefire and continued Houthi attacks on Saudi Arabia, oil prices rose overnight. PetroChina (00857) rose 2.9% to HK$10.14; CNOOC (00883) rose 0.7% to HK$24.3. Shipping stocks also rose, with Orient Overseas (00316) up 1.9% at HK$162.8; COSCO Shipping Holdings (01919) up 2.4% at HK$17.73.
However, Wall Street chip stocks continued to retreat overnight, dragging down their Hong Kong peers: Hua Hong Semiconductor (01347) down 5.6% at HK$84.8; SMIC (00981) down 1.2% at HK$55.5.
Haidilao (06862) offered financial assistance to its controlling shareholder Zhang Yong, granting him a Hong Kong dollar loan facility with a principal limit of RMB 100 million. Citi noted this could raise investor concerns about the controlling shareholder's funding needs, cutting its target price by 20%. Haidilao fell 4.4% to HK$9.17.
Pharmaceutical stocks led the declines, with WuXi Biologics (02269) down 3.6% at HK$50.75; China Biologic Products (01177) down 1.1% at HK$5.34.
The Shanghai Composite Index stands at 3,813, up 16 points or 0.4%, with turnover of RMB 597.485 billion. The Shenzhen Component Index is at 12,434, up 49 points or 0.4%, with turnover of RMB 693.687 billion.
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Financial stocks lead the gains, with HSBC (00005) up 1% at HK$149.6; AIA (01299) up 1% at HK$72.6; and Bank of China Hong Kong (02388) up 2.1% at HK$51.65.
Citi issued a research report reaffirming its forecast of MOP 25 billion in October gaming revenue, averaging MOP 806 million per day, representing a 4% year-on-year increase. The brokerage resumed coverage on gaming stocks, with all casino stocks rising: Galaxy Entertainment (00027) up 3.5% at HK$32.72; Sands China (01928) up 2.9% at HK$11.37.
With doubts over a Russia-Ukraine ceasefire and continued Houthi attacks on Saudi Arabia, oil prices rose overnight. PetroChina (00857) rose 2.9% to HK$10.14; CNOOC (00883) rose 0.7% to HK$24.3. Shipping stocks also rose, with Orient Overseas (00316) up 1.9% at HK$162.8; COSCO Shipping Holdings (01919) up 2.4% at HK$17.73.
However, Wall Street chip stocks continued to retreat overnight, dragging down their Hong Kong peers: Hua Hong Semiconductor (01347) down 5.6% at HK$84.8; SMIC (00981) down 1.2% at HK$55.5.
Haidilao (06862) offered financial assistance to its controlling shareholder Zhang Yong, granting him a Hong Kong dollar loan facility with a principal limit of RMB 100 million. Citi noted this could raise investor concerns about the controlling shareholder's funding needs, cutting its target price by 20%. Haidilao fell 4.4% to HK$9.17.
Pharmaceutical stocks led the declines, with WuXi Biologics (02269) down 3.6% at HK$50.75; China Biologic Products (01177) down 1.1% at HK$5.34.
The Shanghai Composite Index stands at 3,813, up 16 points or 0.4%, with turnover of RMB 597.485 billion. The Shenzhen Component Index is at 12,434, up 49 points or 0.4%, with turnover of RMB 693.687 billion.
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| Galaxy Entertainment (00027) | 32.72 | Up 3.48% |
| Sands China (01928) | 11.37 | Up 2.9% |
| PetroChina (00857) | 10.14 | Up 2.89% |
| CNOOC (00883) | 24.3 | Up 0.66% |
| HSBC (00005) | 149.6 | Up 1.01% |
| Bank of China Hong Kong (02388) | 51.65 | Up 2.08% |
| Orient Overseas (00316) | 162.8 | Up 1.94% |
| COSCO Shipping Holdings (01919) | 17.73 | Up 2.37% |
| Hua Hong Semiconductor (01347) | 84.8 | Down 5.62% |
| SMIC (00981) | 55.5 | Down 1.25% |
| Haidilao (06862) | 9.165 | Down 4.43% |
| WuXi Biologics (02269) | 50.8 | Down 3.51% |
| China Biologic Products (01177) | 5.335 | Down 1.2% |
