Hong Kong Stock Midday Review: Three Major Indices Fall, Tech Stocks Down, Construction and Healthcare Stocks Strong!
Glo Hong Kong August 21st｜Hong Kong stocks fell midday, with the Hang Seng Index down 0.1%, the CSI-300 Index down 0.32%, and the Hang Seng Tech Index down 0.51%, failing to extend yesterday's afternoon rally.
On the market, many large-cap tech stocks declined, including Xiaomi, Baidu, and Meituan, which fell 2.4%, 1.49%, and 1.5% respectively; Alibaba and JD.com also saw slight declines, while Tencent and Kuaishou rose; meanwhile, healthcare stocks surged on positive sector news, with Dingdan Health leading the way with a gain of over 21%, followed by Ping An Good Doctor's 12% rise. Construction stocks also showed strong gains, particularly in high-speed rail construction, with China Zhongtie Locomotive & Rolling Stock Co., Ltd. rising over 5%; other active sectors included electronics, oil, rare earth concepts, and power.
On the other hand, entertainment and leisure stocks, lithium battery stocks, automotive stocks, robotics concept stocks, and gold stocks mostly declined, with recent new high-setters Longfeng Optical Fiber Communication Co., Ltd. plummeting over 12% and "stock king" Lao Po Gold falling 5.69%. (Glo Hong Kong)