HSI1 22,881.02 -145.66 308.05B
HSCEI1 7,558.30 -47.04 109.39B
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HSI Slips 273 pts at Half-day; BIDU-SW Rallies 4%, SMIC Surges 7%+; CN Banks Depressed
2026-06-30 12:22:47
US stocks stabilized overnight after ending recent downswings. The DJIA notched a record high and crossing 52,000 points for the first time, while the Nasdaq closed up 2.07%. The HSI opened down 18 points today and remained under pressure. By midday, it closed at 22,752, down 273 points or 1.19%, with half-day turnover at HKD139.896 billion; the HSCEI settled at 7,507, down 98 points or 1.29%; and the HSTECH ended at 4,454 at midday, up 61 points or 1.4%.

Major techs jumbled. BIDU-SW (09888.HK) spiked another 4.12%; NTES-S (09999.HK) gained 1.6% after being added to the Southbound Stock Connect list by the Shenzhen Stock Exchange; TENCENT (00700.HK) edged up less than 0.1%; BABA-W (09988.HK) dipped 0.7%; and JD-SW (09618.HK) faded 0.56%.

China was reportedly discouraging enterprises from raising funds overseas at higher interest rates, dampening "Big Four" Chinese banks. CCB (00939.HK), ICBC (01398.HK) and ABC (01288.HK) each slid more than 3%, while BANK OF CHINA (03988.HK) dived 2.16%.

Semiconductor stocks bucked the trend and moved sharply higher. SMIC (00981.HK) surged 7.61%, becoming the best-performing blue chip at midday; HUA HONG GRACE (01347.HK) soared 5.39%, MONTAGE TECH (06809.HK) shot up 5.99%; ASMPT (00522.HK) advanced 10.88%; XL2CSOPSMSN (07747.HK) rallied 6.11%; and XL2CSOPHYNIX (07709.HK) added 1.43%.
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AASTOCKS Financial News
Website: www.aastocks.com