HSI1 17,444.30 0.00 --
HSCEI1 6,105.54 0.00 --
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HSI Climbs 28 Pts Midday; Home Appliances In Demand; EAST BUY Cascades 21%
2024-07-26 12:22:17
At midday close, the HSI added 28 pts or 0.17% to 17,033; the HSCEI dropped 4 pts or 0.1% to 6,012; the HSTECH rose 22 pts or 0.7% to 3,443. The total turnover of the market was $60.193 billion in the first half of the day.

EAST BUY (01797.HK) announced the departure of Dong Yuhui, and that it intended to repurchase shares worth no more than RMB500 million. At midday, the stock price skydived 21% to $9.8. Fellow company NEW ORIENTAL-S (09901.HK) slumped 5.4% to $54.4. The Chinese government's subsidy policy for home appliance trade-ins continued to cheer up related stocks. JD-SW (09618.HK) surged 3.6% to $102.9, TCL ELECTRONICS (01070.HK) spiked 5.1%. HAIER SMARTHOME (06690.HK) and HISENSE HA (00921.HK) shot up 4.7% and 3.9%.

Among other techs, BABA-SW (09988.HK) dipped 0.1% to $73.25. TENCENT (00700.HK) rebounded 1.2% to $355.4. MEITUAN-W (03690.HK) and BIDU-SW (09888.HK) sagged 0.2%. XIAOMI-W (01810.HK) gained 1.9%. NTES-S (09999.HK) dropped 1.7%. ALI HEALTH (00241.HK), JD HEALTH (06618.HK), GDS-SW (09698.HK) and XD INC (02400.HK) climbed more than 2%. Chip equipment stock ASMPT (00522.HK) picked up 1% to $79.5 in early trading.

EV maker Tesla bounced back, whereas the Chinese government raised the subsidy for scrapping and replacing vehicles. LI AUTO-W (02015.HK), XPENG-W (09868.HK), BYD COMPANY (01211.HK) and GEELY AUTO (00175.HK) each rose more than 1%.
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