Hong Kong Stock Midday Review | Hang Seng Index fell 1.34% in the morning session, New Oriental's sharp decline dragged down the blue-chip index
The Hong Kong stock market's Hang Seng Index fell 1.34% in the morning session, reporting at 19,836 points, while the Hang Seng Tech Index dropped 1.97%. New Oriental's stock price fell over 25% in the morning due to the impact of Dongfang Zhenxuan's performance, following a 23% plunge in overnight U.S. stocks. Stocks such as China Tobacco Hong Kong, Hon Teng Precision, and Lao Pu Gold performed strongly, rising over 6%, 10%, and 5% respectively. Yuehai Property fell over 25%, and Chanyou Technology dropped more than 11% after issuing a profit warning. Airline stocks retreated, with China Southern Airlines and Air China falling 3.92% and 4.03% respectively
According to Zhitong Finance APP, the Hong Kong Hang Seng Index fell by 1.34%, closing at 19,836 points; the Hang Seng Tech Index dropped by 1.97%.
China Tobacco Hong Kong (06055) rose over 6% again, with the R&D progress of domestic HNB products accelerating, and the company's market share is expected to increase rapidly.
Hon Teng Precision (06088) rose over 10% again, with a clear trend of collaboration with NVIDIA, and the shipment volume of the company's high-speed connector products may significantly increase.
Lao Pu Gold (06181) rose over 5% to reach a new high, with a total market value exceeding HKD 60 billion, and the jewelry peak season is expected to boost terminal sales.
Lingbao Gold (03330) rose over 13% again, with an expected year-on-year growth of up to 1.4 times in net profit for the entire year, and institutions are optimistic about the widening pre-tax profit per ounce.
InnoCare Pharma (02577) rose over 5% to reach a new high, with the company owning the world's largest gallium nitride power semiconductor production base.
ZTE Corporation (00763) rose over 4% again, having increased over 50% in the past two months, with its self-developed chip business providing momentum for the company's valuation uplift.
Jing Tai Holdings-P (02228) rose over 8% against the market trend, with the company recently raising over HKD 1.1 billion from a placement, exceeding the total amount raised in its IPO.
Yuehai Property (00124) fell over 25% again, having dropped over 60% since early December, with Yuehai Investment completing the physical distribution of Yuehai Property shares.
Chanyou Technology (02660) fell over 11% after issuing a profit warning, expecting a year-on-year decrease of about 35% to 45% in net profit attributable to shareholders for the fiscal year 2024.
Aviation stocks fell back in the morning session, with Air China (00753) recently issuing a profit warning, facing performance pressure due to the Q4 off-season and currency depreciation. Air China (00753) fell 3.92%; China Southern Airlines (01055) fell 4.03%.
New Oriental-S (09901) fell over 25% in the morning session, with the performance of Dongfang Zhenxuan dragging down New Oriental's stock price, as New Oriental plummeted 23% overnight in the US stock market