Hang Seng Stumbles, Pop Mart & WuXi Mitigate Fall
The Hang Seng Index fell 0.7% to 25,842.83 as of 10:00 a.m. local time, following a pause in Wall Street's rally as the S&P 500 stalled and the Nasdaq slipped 0.2%. Pressure came from tech stocks: NetEase slumped 3.3% to HK$232.40, Alibaba fell 2.3% to HK$161.30, and Baidu retreated 2% to HK$115. Precious metals stocks also took a hit—Zijin Mining fell 5.6% to HK$30.58 and jewelry retailer Chow Tai Fook fell 4.3% to HK$15.91—as gold held below US$4,100/oz after a sharp correction and silver weakened 7.9% to US$48.54.
Index losses were limited by Pop Mart International's 4.5% surge to HK$261.60, boosted by consumer sentiment, while WuXi AppTec and Midea Group rose 0.6% to HK$106.10 and HK$82.80, respectively. On the first floor, Fibocom Wireless fell 5.1% to HK$20.40 in Hong Kong, while MarcoPolo Holdings surged 154% to 34.84 yuan in Shenzhen. Regional markets were mixed: the Nikkei 225 fell 1%, the S&P/ASX 200 fell 0.8%, and the Kospi edged up 0.1%. (az)
Source: Newsmaker.id
