HSI1 18,475.92 +268.79 116.19B
HSCEI1 6,547.29 +110.20 55.14B
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HSI Leaps 281 Pts at Midday Close; SENSETIME Rockets 31% before Trading Halted
2024-04-24 12:28:54
At midday close, the HSI gained 281 pts or 1.7% to 17,110; the HSCEI rose 107 pts or 1.8% to 6,061; and the HSTECH added 90 pts or 2.6% to 3,539. Half-day turnover totaled $70.882 billion.

Trading in the shares of SENSETIME-W (00020.HK) was suspended after a 31.1% surge in share price following the release of a new AI model. The stock last quoted at $0.8 before the suspension. Chip equipment stock ASMPT (00522.HK), with its first-quarter net profit leaping nearly 1.4 times QoQ, shot up 7.6%. As to other techs, BABA-SW (09988.HK) spiked 3.7% to $72.4. TENCENT (00700.HK) rallied 2.2% to $339.8. MEITUAN-W (03690.HK) and JD-SW (09618.HK) swelled 2.3% and 3.7%. KUAISHOU-W (01024.HK), BILIBILI-W (09626.HK) and CHINASOFT INT'L (00354.HK) ballooned 6.2%-7.2%.

As Tesla (TSLA.US) intended to speed up the launch of affordable car, its shares rose sharply after trade. HK-listed automakers NIO-SW (09866.HK), XPENG-W (09868.HK) and GEELY AUTO (00175.HK) mounted more than 2%. LI AUTO-W (02015.HK) receded more than 2%. XIAOMI-W (01810.HK) jumped up 2.7% after Lei Jun disclosed that Xiaomi SU7’s GPM was about 5%-10%, which brokers said was ahead of market expectations. Lithium material maker TIANQI LITHIUM (09696.HK), warning a loss of at least RMB3.6 billion in 1Q24, tumbled 18.3%. Its peer GANFENGLITHIUM (01772.HK) also cratered 4.5%.

Gold prices fell, but commodity and metal stocks rebounded. SD GOLD (01787.HK) and ZHAOJIN MINING (01818.HK) soared 2.6% and 3.1%. CHI SILVER GP (00815.HK) and ZIJIN MINING (02899.HK) rocketed 3.7% and 4.3%.
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