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<H Shrs>HSI Ends Down 80 Pts; Casinos Rally, but Pharmas Recede
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The HSI crossed the finish line at 23,980, down 80 points or 0.3%. The HSCEI fell 35 points or 0.4% to close at 8,694. The HSTECH slipped 8 points or 0.2%, closing at 5,291. The total market turnover for the day amounted to HKD202.144 billion. Casino stocks delivered a sharp rally. SANDS CHINA LTD (01928.HK) advanced 5.2% against the market, making it the best-performing blue-chip stock. Citi estimated Macau's GGR for the first 15 days of June to reach MOP10 billion (last week's daily average GGR at MOP686 million, 5% higher than the first eight days of June at MOP650 million) and lifted its forecast for Macau's June GGR to MOP19 billion. In addition, HSBC Research was upbeat about MGM CHINA (02282.HK) and GALAXY ENT (00027.HK), believing that the continued improvement in the high-end market would be key to reevaluation. MGM CHINA climbed 4.8% for the day, while GALAXY ENT also grew 1.1%. WYNN MACAU (01128.HK) swelled 1.6%. Among tech stocks, BABA-W (09988.HK) released Qwen3's upgraded version, a whole series fully compatible with Apple's MLX architecture. The company's stock price leaped by 1.7%. TENCENT (00700.HK) inched up 0.8%. MEITUAN-W (03690.HK), KUAISHOU-W (01024.HK), NTES-S (09999.HK), BIDU-SW (09888.HK), and GDS-SW (09698.HK) edged down 0.2-1.5%. MEITU (01357.HK) fell 3.8%. JD-SW (09618.HK) and BILIBILI-W (09626.HK) edged 0.5% and 0.2% higher, respectively. Stablecoin concept ZA ONLINE (06060.HK) added 0.2%. Chip stock SMIC (00981.HK) faltered nearly 1%. In the automotive sector, GEELY AUTO (00175.HK), BYD COMPANY (01211.HK), LI AUTO-W (02015.HK), NIO-SW (09866.HK), and XPENG-W (09868.HK) dipped 0.4-2.3%. XIAOMI-W (01810.HK) also edged 0.3% lower. The company adopted multiple safety measures for the YU7's battery pack. Battery stock CATL (03750.HK) grew 0.5%. Lithium stock GANFENGLITHIUM (01772.HK) receded 0.7%. China plans to cut short the approval cycle for new drug clinical trial applications. Pharma stock CSPC PHARMA (01093.HK) cratered 6.4%. LUYE PHARMA (02186.HK) also sank 11.1%. BEIGENE (06160.HK), HANSOH PHARMA (03692.HK), WUXI BIO (02269.HK), and WUXI APPTEC (02359.HK) faded 3-3.7%. SINO BIOPHARM (01177.HK) eroded 5.3%. SIMCERE PHARMA (02096.HK) granted a license to NextCure, but its stock price still dived 10.5%. AAStocks Financial News |
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