NVIDIA (NVDA.US) rebounded by 7% in the evening and funds returned to the technology stocks, with the Nasdaq up 1.3% and the Dow down 0.8%. Hong Kong stocks fluctuated up and down this morning, the Hang Seng Index opened low with a drop of 138 points, narrowing its decline. It once reversed to 49 points and reached 18,122 points and fell 3 points at noon, closing at 18,069 points. The national index rose by less than 1 point, closing at 6,465 points; The Hang Seng Tech Index rose 10 points or 0.3%, closing at 3,665 points. Total turnover of the market was HKD 48.01 billion in half a day, and the Shanghai and Shenzhen-Hong Kong Stock Connect Southbound Trading had a net inflow of RMB 1.137 billion and RMB 851 million respectively in half a day.
Meituan (03690.HK) declined to comment on the news of issuing over $1 billion in bonds. Meituan fell 0.6% to HKD 116.1. In June, 104 domestic games were approved, including Tencent's (00700.HK) "Rock Kingdom: World". Tencent fell 0.6% to HKD 379.8. Netease (09999.HK) rose 4.4% to HKD 148.1. NVIDIA rebounded, and chip stocks Semiconductor Manufacturing International Corporation (00981.HK) and Hua Hong Semiconductor (01347.HK) both rose more than 1%, and chip equipment stock ASMPT (00522.HK) rose 5.2%.
As for other technology stocks, Alibaba (09988.HK) and Xiaomi (01810.HK) rose 0.3% and 0.1% respectively; Baidu (09888.HK) and Kuaishou (01024.HK) rose 0.6% and 1.3% respectively; JD.com (09618.HK) and Bilibili (09626.HK) fell 1.2% and 1.5% respectively; Sunac China (00020.HK) and Eastbuy (01797.HK) fell 2.2% and 3.9% respectively. Baillie Gifford reduced its position in BYD (01211.HK) and cashed out HKD 473 million last Wednesday, reducing its stake to 5.99%. BYD closed flat at HKD 239.6. As for other car stocks, Li Auto (02015.HK) and Xpeng (09868.HK) rose 3.7% and 1.5% respectively, while Geely (00175.HK) rose 1.3%.
Mainland lithium futures prices rebounded, and Ganfeng Lithium (01772.HK) and Tianqi Lithium (09696.HK) rose by 7.1% and 11.1%, respectively. Gold prices fell, and Zhaojin Mining (01818.HK), China Gold International Resources (02099.HK), and Zijin Mining (02899.HK) fell by 2.6% to 3.6%. Coal stocks Yanzhou Coal Mining (01171.HK) and China Coal (01898.HK) fell by 4.6% and 3.7%, respectively. The Baltic Dry Index fell more than 2%, and COSCO Shipping Holdings (01919.HK), Hafnia Limited (01308.HK), Pacific Basin Shipping (02343.HK), and Pacific Basin Shipping (02343.HK) fell by 2.5% to 3.2%.
As for consumer stocks, Want Want China (00151.HK) rose 8.8%, and the company announced yesterday that it earned 18% more and added a final dividend. Inner Mongolia Yili Industrial Group Co., Ltd. (02319.HK) and Bud APAC (01876.HK) surged 4.3%. Citigroup recently met with 30 institutional investors in the UK and Europe, and English and European institutional investors showed interest in re-examining their positions in China, especially high-yielding consumer stocks, and expressed interest in food stocks like Yili.
Haidilao International Holding Ltd. (06862.HK) and Topsports International Holdings Ltd. (06110.HK) fell more than 2%, and Hisense Home Appliances (00921.HK) fell 3.3%. Pharmaceutical stocks Shiyao Holdings Co., Ltd. (01093.HK) and Zhejiang Medicine Co., Ltd. (01177.HK) rose more than 3%; Sinopharm (01099.HK) fell 2.8%, and China Traditional Chinese Medicine Holdings (00570.HK) fell 12%.
HSBC Holdings plc (00005.HK) rose 0.1% to HKD 68.45; Hong Kong Exchanges and Clearing Limited (00388.HK) closed flat at HKD 255.4; AIA Group Limited (01299.HK) fell 0.6%; Mainland real estate stocks Longfor Group Holdings Limited (00960.HK), China Jinmao Holdings Group Limited(01813.HK) and Oceanwide Holdings International Co., Ltd. (03377.HK) fell 2.4% to 3.1%; Other shares, Conch Venture Holdings Limited (00586.HK) rose 5.4%. Esprit Holdings Limited (00330.HK) saw a half-day increase of 16.2% to HKD 0.194. Television Broadcasts Limited (00511.HK) reached a new framework agreement with Tencent Video, and the stock price rose 4.6%.