特斯拉股價下滑，車股比亞迪(01211.HK)及小鵬(09868.HK)跌0.6%及1.6%，零跑(09863.HK)跌2.4%。華晨(01114.HK)半年純利跌61%，股價跌6.4%。內地鋰期貨價格下滑，贛鋒01772.HK)及天齊(09696.HK)跌3.4%及4.8%。The Hong Kong stock market softened today as market participants awaited the speech of Federal Reserve Chairman Powell at Jackson Hole. The Hang Seng Index (HSI) opened lower by 119 points and narrowed its decline throughout the day, closing down 28 points or 0.2% at 17,612. The Hang Seng TECH Index fell 39 points or 1.1% to 3,468. The total market turnover decreased to HKD 78.773 billion.
NetEase (09999.HK) reported a 13% year-on-year decrease in net profit under non-GAAP accounting standards for the second quarter. The market is concerned that the quarterly decline in deferred revenue is greater than normal, leading to a 10.3% drop in the stock price. Baidu (09888.HK) saw a 7.5% decrease in net profit under non-GAAP accounting standards for the second quarter. The market is concerned about the future of advertising revenue, resulting in a 4.9% drop in the stock price. Bilibili (09626.HK) narrowed its adjusted net loss for the second quarter, with the stock price opening 4% lower but recovering throughout the day to end with a 0.8% increase.
Alibaba (09988.HK) shareholders approved the proposal to repurchase 10% of ordinary shares and will commence dual primary listings on the Hong Kong Stock Exchange and the New York Stock Exchange next Wednesday (28th). The stock price rose by 1.2%. As for other technology stocks, Tencent (00700.HK) and JD.com (09618.HK) fell by 0.6% and 0.1% respectively, Meituan (03690.HK) and Xiaomi (01810.HK) fell by 1.4% and 1.5% respectively, Kuaishou (01024.HK) and Kingdee (00268.HK) rose by 2.4% and 3% respectively, GDS Holdings (09698.HK) rose by 13.5%, Ali Health (00241.HK) and Kingsoft (03888.HK) fell by 3.9% and 2.9% respectively. AAC Technologies (02018.HK) received a target price upgrade from brokerage firms, resulting in a continued 4.8% increase in the stock price.
Tesla's stock price declined, with BYD (01211.HK) and XPeng (09868.HK) dropping by 0.6% and 1.6% respectively, and Li Auto (09863.HK) falling by 2.4%. China Harmony Auto (01114.HK) reported a 61% decrease in net profit for the first half of the year, leading to a 6.4% drop in the stock price. Mainland lithium futures prices declined, with GANFENG (01772.HK) and Tianqi Lithium (09696.HK) falling by 3.4% and 4.8% respectively.
Mainland insurance company Ping An Insurance (02318.HK) reported a 7% increase in net profit for the first half of the year, maintaining an interim dividend of 93 cents. The stock price rose by 3.6%. China Life (02601.HK) and China Pacific Insurance (02628.HK) rose by 6.1% and 2.1% respectively. As for other financial stocks, HSBC (00005.HK) and AIA (01299.HK) rose by 0.1%, while Hong Kong Exchanges and Clearing (00388.HK) fell by 0.1%. Gold prices retreated, resulting in a 3.4% and 5.4% drop in the stock prices of Zhaojin Mining (01818.HK) and Lingbao Gold (03330.HK) respectively.
In other stock news, Hisense Home Appliances (00921.HK) rose by 3.4%, Topsports (06110.HK) and Haidilao (06862.HK) fell by 4.7% and 3.3% respectively. Nine Express (01836.HK) reported a 65% increase in net profit for the first half of the year and announced share buybacks and special dividends for the next 3 years, resulting in a 10.3% increase in the stock price. Shipping company Orient Overseas International (00316.HK) reported a 26% decrease in net profit for the first half of the year and reduced its interim dividend, leading to a 7.3% drop in the stock price.
Several companies announced their earnings at noon. Longfor (00960.HK) reported a 27.2% decrease in net profit for the first half of the year and declared an interim dividend of 22 cents. The stock price fell by 0.5%. Singamas Container (00716.HK) reported a 76% increase in net profit for the first half of the year and doubled its interim dividend to 3 HK cents. However, the stock price fell by 10.8% in the afternoon.