The US economic growth in the last quarter exceeded expectations. The Dow rose more than 500 points the night before (25th) and closed up 81 points or 0.2%. Hong Kong stocks rebounded in the morning with the outside, the Hang Seng opened up 74 points, rose 224 points at the beginning, and then fell back to 17,229 points. It once fell 80 points to 16,924 points, up 28 points or 0.17% at midday, reporting 17,033 points; the national index fell 4 points or 0.1%, reporting 6,012 points; and the Hang Seng Technology Index rose 22 points or 0.7%, reporting 3,443 points. The total turnover of the market in half a day was 60.193 billion yuan, and the net inflow of Shanghai, Shenzhen and Hong Kong stocks southward trading was 2.42 billion yuan and 1.488 billion yuan respectively.
Dong Yuhui of East Buy (01797.HK) resigned and announced the repurchase of shares worth no more than RMB 0.5 billion. The stock price fell 21% to 9.8 yuan at mid-day. The same series of New Oriental (09901.HK) fell 5.4% to 54.4 yuan. The central government has continued to stimulate related stocks with the home appliance subsidy policy. JD.com (09618.HK) rose 3.6% to 102.9 yuan, TCL Electronics (01070.HK) rose 5.1%, and Haier Smarthome (06690.HK) and Hisense Ha (00921.HK) rose 4.7% and 3.9%, respectively.
In other technology stocks, Alibaba (09988.HK) fell 0.1% to 73.25 yuan, Tencent (00700.HK) rebounded 1.2% to 355.4 yuan, Meituan (03690.HK) and Baidu (09888.HK) fell 0.2%, Xiaomi (01810.HK) rose 1.9%, and Netease (09999.HK) fell 1.7%. Ali Health (00241.HK), JD Health (06618.HK), GDS Holdings (09698.HK), and Xindong (02400.HK) rose more than 2%. ASMPT (00522.HK) rebounded 1% to 79.5 yuan.
Electric car stocks rebounded, and the central government raised scrap car replacement subsidies. Ideal (02015.HK), Xiaopeng (09868.HK), BYD Company Limited (01211.HK), and Geely (00175.HK) each rose more than 1%.
Brokerage stocks are doing well, GF Securities (01776.HK) rose 3.1%, CICC (03908.HK), China Securities Co., Ltd. (06066.HK), China Galaxy (06881.HK), and Huatai Financial (06886.HK) rose more than 2%. In other financial stocks, HSBC Holdings (00005.HK) rose 0.2% to 66.1 yuan, Hong Kong Exchanges and Clearing (00388.HK) fell 0.1%, and AIA (01299.HK) rose 2.3%. China Merchants Bank (03968.HK) and Postal Savings Bank of China (01658.HK) fell 1.6% and 1.4%, respectively.
Chinese telecom stocks are falling, China Telecom (00728.HK) and China Unicom (00762.HK) fell 4.5% and 6.3%, respectively, and China Mobile (00941.HK) fell 3.1%. Individual heavy-duty trucks and machinery stocks are currently being speculated, with FAW Jiefang (03808.HK) and Weichai Power (02338.HK) rising 15.8% and 11.8%, respectively, and Sany Int'l (00631.HK) rising 6.5%. Avichina (02357.HK), a military industry stock, also rose 6.6%. Wind power stock Goldwind (02208.HK) rose 7.9%.
HKT (06823.HK) had a net profit of HKD 1.99 billion in the first half of the year, up 1.9%. The mid-term distribution per unit was 32.92 cents, and the unit price rose 1.2%.