HSI1 23,838.39 -170.16 71.10B
HSCEI1 8,005.69 -51.07 22.59B
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HSI Plunges 223 Pts at Half-day; BABA Tumbles 5% Below HKD100, CKH Down 4%+
2026-11-12 12:30:58
Market interest in AI trading rekindled, with the Nasdaq closing up 1.6% overnight (11th) and the PHLX Semiconductor Sector Index surging 5.66%. However, Hong Kong bourse opened sharply lower by 194 points today (12th). The market once plunged more than 300 points during trading and slipped below the 24,000-mark, hitting a trough of 23,988. The HSI closed the half-day session at 24,092, down 223 points or 0.92%, with main board turnover at HKD105.644 billion. The HSCEI concluded at 8,086, down 85 points or 1.04%, while the HSTECH dipped 56 points or 1.41% to 3,970 points.

Heavyweight stocks were the main drag on the market. BABA-W (09988.HK) was the weakest performer, slipping 4.97% at midday to HKD95.6. JD-SW (09618.HK) and KUAISHOU-W (01024.HK) dived more than 3%. TENCENT (00700.HK) fell 1.46%, while MEITUAN-W (03690.HK) declined 1.3%. XIAOMI-W (01810.HK) bucked the trend, rising 0.73%.

Some chip makers continued to advance. HUA HONG GRACE (01347.HK) jumped up 2.66%, while SMIC (00981.HK) gained 1.51% ahead of its earnings release. ILUVATAR COREX (09903.HK) surged 11%, and BIREN TECH (06082.HK) elevated 6.67%.

AI large model concept stocks gave back part of yesterday's gains today. Z.AI (02513.HK) tumbled 5.21%, while MINIMAX-W (00100.HK) plummeted 4%.

Among other blue chips, CKH HOLDINGS (00001.HK) came under acute pressure, stumbling 4.23% by midday amid reports that the group had delayed AS Watson's dual-listing plan. CATL (03750.HK) cratered 1.96%, BYD COMPANY (01211.HK) shrank 1.95%, while WUXI APPTEC (02359.HK) mounted 2.75%.
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