ETN News (20th) - The Philadelphia Semiconductor Index halted its eight-day losing streak, closing up 1.6% on Monday (19th). However, Hong Kong stocks resumed trading and caught up with losses, as the semiconductor sector continued to decline, coupled with tech and internet stocks opening lower, dragging the Hang Seng Index below the 24,000 level right at the opening, at 23,990, down 196 points or 0.8%. Board turnover amounted to HK$3.101 billion. The Hang Seng China Enterprises Index stood at 8,078, down 49 points or 0.6%. The Hang Seng Tech Index was at 4,055, down 52 points or 1.3%.

    The semiconductor sector saw significant declines: Lenovo Group (00992) fell 6.63% to HK$26.20; Hua Hong Semiconductor (01347) dropped 3.74% to HK$72.15, marking ten consecutive days of decline with a cumulative drop of 34.41%; SMIC (00981) declined 2.67% to HK$51.00.

    Tech and internet stocks opened collectively lower: Alibaba (09988) down 1.84% at HK$106.80; Baidu (09888) down 1.89% at HK$77.95; Tencent (00700) down 1.1% at HK$413.20; Meituan (03690) down 0.86% at HK$75.05; JD.com (09618) dipped 0.57% to HK$105.50.

    Hansoh Pharmaceutical (03692) rose 2.71% to HK$32.60 after announcing a collaboration with Roche, receiving a $400 million upfront payment; WuXi Biologics (02269) gained 1.66% to HK$49.00.

    CATL (03750) opened down 2.99% at HK$427.60 after JPMorgan slashed its price target and downgraded the stock to neutral ahead of earnings.

    HSBC (00005) fell 2.81% to HK$145.50; Standard Chartered (02888) down 2.86% at HK$217.20; AIA (01299) declined 1.64% to HK$72.10. (ey)