Intraday Quick Fact | The Hang Seng Index and the KSI both fell about 1.5%, auto stocks tumbled, Xiaopeng Motors fell nearly 13%, and Weilai fell more than 8%-clevelanddrifters.com

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Intraday Quick Fact | The Hang Seng Index and the KSI both fell about 1.5%, auto stocks tumbled, Xiaopeng Motors fell nearly 13%, and Weilai fell more than 8%

time：2023-03-24 01:54:49 source：clevelanddrifters.com author：Education stock

Intraday Quick Fact | The Hang Seng Index and the KSI both fell about 1.5%, auto stocks tumbled, Xiaopeng Motors fell nearly 13%, and Weilai fell more than 8%

Futu Information reported on September 22 that the decline of Hong Kong stocks narrowed. As of press time, the Hang Seng Index fell 1.42%, and the Hang Seng Technology Index fell 1.47%. Large technology stocks fell broadly, with Alibaba, Meituan, JD.com, and Baidu down over 3%, NetEase and Bilibili down over 2%, and Tencent down nearly 1%. Auto stocks tumbled. Xiaopeng Motors fell by more than 13%, Weilai fell by nearly 9%, Li Auto fell by more than 4%, and BYD shares fell by nearly 2%. Casino and gaming stocks fell, SJM Holdings fell nearly 12%, Sands China, Galaxy Entertainment fell about 4%, Wynn Macau fell more than 5%. Pharmaceutical stocks weakened, with WuXi Biologics, WuXi AppTec, and Innovent down nearly 2%, while CSPC and Kangfang Biologics fell nearly 1%. Apple concept stocks were mixed, Gaowei Electronics rose nearly 2%, Sunny Optical Technology rose more than 1%, AAC Technology fell nearly 2%, and BYD Electronics fell slightly. The new automakers in Hong Kong stocks tumbled collectively, with $Xpeng Motors-W (09868.HK)$ down nearly 13%. $SJM Holdings (00880.HK)$ fell more than 11% to lead the decline in gaming stocks, and the results of the rights issue showed that more than 6% of existing shareholders did not follow up; Morgan Stanley lowered the target price of SJM to 2.5 due to the rights issue Hong Kong dollar, the rating continues to maintain underweight. $Ctrip Group-S(09961.HK)$ fell nearly 6% after the results. On the news, Ctrip Group released a performance announcement. In the first half of the year, the group achieved a net income of 8.12 billion yuan, a year-on-year decrease of 18.78%; the net loss attributable to Ctrip Group Co., Ltd. was 920 million yuan. $ Kuaigou Taxi (02246.HK)$ fell nearly 6%, and Ali reduced its holdings of Kuaigou Taxi by about 6.03 million shares in the past three months. $CSSD (00317.HK) $ rose nearly 3%, the agency said shipyard profitability is expected to improve. $China Rare Earth (00769.HK)$ rose by nearly 10%, with a cumulative increase of more than 25% in the past two days. The integration of the rare earth industry will increase the concentration of the industry. Editor/ruby risk reminder: The opinions of the authors or guests shown above have their own specific positions, and investment decisions need to be based on independent thinking. Futu will endeavour but cannot guarantee the accuracy and reliability of the above content, and will not be liable for any loss or damage arising from any inaccuracies or omissions.

(Responsible editor：Technology stocks)

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