SMIC Plans to Acquire 49% Stake in SMNC for ¥40.6B
SMIC intends to acquire the remaining 49% stake in unit SMNC for Y40.6B, or $5.79B, giving the company full control of the subsidiary, Reuters' Ethan Wang and Ryan Woo report, citing a filing with the Shanghai Stock Exchange. The deal for SMNC, which focuses on 12-inch integrated circuit wafer manufacturing, will be executed through issuing 547.2M A-shares to five SMNC shareholders, including China's National Integrated Circuit Industry Investment Fund.
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HKD4.6B Net Outflow from TRACKER FUND in Southbound Trading
Southbound Trading Inflows: TENCENT (00700.HK) saw significant net inflows of HKD1.8 billion, while YOFC (06869.HK) and SMIC (00981.HK) also experienced positive trading activity.
Southbound Trading Outflows: TRACKER FUND (02800.HK) and KUAISHOU-W (01024.HK) faced substantial net outflows, totaling HKD4.6 billion and HKD568.6 million, respectively.
Short Selling Activity: TENCENT had a short selling amount of $1.33 billion with a ratio of 9.036%, while KUAISHOU-W had a higher short selling ratio of 21.451%.
Market Overview: Overall, Southbound Trading net outflow was zero, accounting for 39.36% of the total transaction amount of HKD100.43 billion.
<Full-day Summary> HSI Gains 467 Points; HSTI Rises 71 Points; PING AN Surges Over 4%; SHK PPT, HSBC HOLDINGS, YUM CHINA, GALAXY ENT, HENDERSON LAND Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 467 points (1.8%) to close at 27,027, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also saw gains, closing at 5,417 and 9,168 respectively, with a total market turnover of $255.14 billion.
Active Heavyweights: Notable stocks included PING AN, which increased by 4.9% to $73, and HKEX, which rose by 2.7% to $418.6. Other significant movers were TENCENT (+2.3%) and BABA (+1.9%), while MEITUAN experienced a slight decline of 0.4%.
Top Gainers: Among HSI and HSCEI constituents, INNOVENT BIO surged by 7.4%, POP MART by 5.8%, and ZIJIN MINING by 5.6%. Other notable gainers included SMIC and CHINA LIFE, both showing significant increases.
Decliners and High Performers: REALORD GROUP saw a sharp decline of 15.5%, while FIT HON TENG and CHINA EAST EDU experienced substantial gains of 14.1% and 13.3%, respectively, indicating a mixed performance across different sectors.
<Midday Update> HSI Rises by 385 Points; HSTI Gains 55 Points; PING AN Surges Over 4%; YUM CHINA, LI NING, SHK PPT, BOC HONG KONG, and ZTO EXPRESS-W Reach New Peaks
Market Performance: The HSI rose by 385 points (1.5%) to 26,945, while the HSTI and HSCEI also saw gains of 55 points (1.0%) and 111 points (1.2%) respectively.
Active Heavyweights: Notable stocks included PING AN (+4.1%), HKEX (+2.8%), and BABA (+1.9%), with significant short selling activity reported for each.
Top Gainers: INNOVENT BIO and POP MART led the gains among HSI & HSCEI constituents, rising by 5.9% and 5.8% respectively, while KUAISHOU-W experienced a notable decline of 4.3%.
Significant Movements: CHINA EAST EDU and CHINA LIT saw substantial increases of 11.9% and 10.1%, while REALORD GROUP faced a significant drop of 10%.
HSI Starts 422 Points Up; HSBC HOLDINGS Gains 3%; Strong Performance in Chips and Commodities
Market Performance: The HSI opened 1.6% higher at 26,982, with significant gains in the HSCEI and HSTECH, reflecting a positive trend in the Hong Kong stock market.
Tech Sector Highlights: Major tech stocks like TENCENT and JD-SW saw increases, while KUAISHOU-W experienced a decline; overall, tech stocks showed a mixed performance with varying short selling ratios.
Automotive and Commodity Stocks: BYD COMPANY and other automotive stocks like NIO-SW and XPENG-W reported gains, alongside a rebound in commodity prices benefiting gold and mining stocks.
Financial Sector Gains: Financial stocks, including HSBC HOLDINGS and HKEX, opened higher, indicating a positive sentiment in the financial market amidst broader market gains.
HKD2.2 Billion Net Inflow from Southbound Trading into TENCENT
Southbound Trading Inflows: TENCENT (00700.HK) saw significant Southbound Trading net inflows of HKD2.2 billion, while SMIC (00981.HK) experienced a net outflow of HKD706.8 million.
Short Selling Activity: TENCENT had a short selling amount of $2.71 billion with a ratio of 7.959%, while SMIC's short selling was $181.86 million with a ratio of 3.819%.
Market Performance: At market close, Southbound Trading net outflow totaled HKD0, accounting for 39.97% of the total transaction amount of HKD114.07 billion.
Future Projections: Analysts from Citi and CLSA predict limited impact from Google's Project Genie on TENCENT, with expectations of double-digit growth in its gaming and advertising sectors this year.
HSI Drops 109 Points at Midday as Software and Tech Stocks Weaken; Kingdee Falls Over 14%
Market Reaction to AI Threat: The software industry faced pressure from AI models by Alphabet and Anthropic, leading to declines in US software stocks and a drop in the Hong Kong bourse, with the HSI down 0.4% in the morning session.
Significant Stock Declines: Major tech companies like Tencent, Bilibili, and Meitu experienced substantial losses, with short selling ratios indicating increased market skepticism.
Broader Tech Sector Impact: Other tech stocks, including Alibaba and JD.com, also saw declines, while semiconductor stocks like SMIC and Hua Hong Semi faced significant drops, reflecting a broader downturn in the tech sector.
Resource Stocks Performance: Gold and silver prices rebounded, and oil stocks gained due to rising refined oil prices in mainland China and geopolitical events, with companies like Sinopec and PetroChina seeing modest increases.
HKD4.6B Net Outflow from TRACKER FUND in Southbound Trading
Southbound Trading Inflows: TENCENT (00700.HK) saw significant net inflows of HKD1.8 billion, while YOFC (06869.HK) and SMIC (00981.HK) also experienced positive trading activity.
Southbound Trading Outflows: TRACKER FUND (02800.HK) and KUAISHOU-W (01024.HK) faced substantial net outflows, totaling HKD4.6 billion and HKD568.6 million, respectively.
Short Selling Activity: TENCENT had a short selling amount of $1.33 billion with a ratio of 9.036%, while KUAISHOU-W had a higher short selling ratio of 21.451%.
Market Overview: Overall, Southbound Trading net outflow was zero, accounting for 39.36% of the total transaction amount of HKD100.43 billion.
<Full-day Summary> HSI Gains 467 Points; HSTI Rises 71 Points; PING AN Surges Over 4%; SHK PPT, HSBC HOLDINGS, YUM CHINA, GALAXY ENT, HENDERSON LAND Reach New Peaks; Market Turnover Increases
Market Performance: The Hang Seng Index (HSI) rose by 467 points (1.8%) to close at 27,027, while the Hang Seng Tech Index (HSTI) and the Hang Seng China Enterprises Index (HSCEI) also saw gains, closing at 5,417 and 9,168 respectively, with a total market turnover of $255.14 billion.
Active Heavyweights: Notable stocks included PING AN, which increased by 4.9% to $73, and HKEX, which rose by 2.7% to $418.6. Other significant movers were TENCENT (+2.3%) and BABA (+1.9%), while MEITUAN experienced a slight decline of 0.4%.
Top Gainers: Among HSI and HSCEI constituents, INNOVENT BIO surged by 7.4%, POP MART by 5.8%, and ZIJIN MINING by 5.6%. Other notable gainers included SMIC and CHINA LIFE, both showing significant increases.
Decliners and High Performers: REALORD GROUP saw a sharp decline of 15.5%, while FIT HON TENG and CHINA EAST EDU experienced substantial gains of 14.1% and 13.3%, respectively, indicating a mixed performance across different sectors.
<Midday Update> HSI Rises by 385 Points; HSTI Gains 55 Points; PING AN Surges Over 4%; YUM CHINA, LI NING, SHK PPT, BOC HONG KONG, and ZTO EXPRESS-W Reach New Peaks
Market Performance: The HSI rose by 385 points (1.5%) to 26,945, while the HSTI and HSCEI also saw gains of 55 points (1.0%) and 111 points (1.2%) respectively.
Active Heavyweights: Notable stocks included PING AN (+4.1%), HKEX (+2.8%), and BABA (+1.9%), with significant short selling activity reported for each.
Top Gainers: INNOVENT BIO and POP MART led the gains among HSI & HSCEI constituents, rising by 5.9% and 5.8% respectively, while KUAISHOU-W experienced a notable decline of 4.3%.
Significant Movements: CHINA EAST EDU and CHINA LIT saw substantial increases of 11.9% and 10.1%, while REALORD GROUP faced a significant drop of 10%.
HSI Starts 422 Points Up; HSBC HOLDINGS Gains 3%; Strong Performance in Chips and Commodities
Market Performance: The HSI opened 1.6% higher at 26,982, with significant gains in the HSCEI and HSTECH, reflecting a positive trend in the Hong Kong stock market.
Tech Sector Highlights: Major tech stocks like TENCENT and JD-SW saw increases, while KUAISHOU-W experienced a decline; overall, tech stocks showed a mixed performance with varying short selling ratios.
Automotive and Commodity Stocks: BYD COMPANY and other automotive stocks like NIO-SW and XPENG-W reported gains, alongside a rebound in commodity prices benefiting gold and mining stocks.
Financial Sector Gains: Financial stocks, including HSBC HOLDINGS and HKEX, opened higher, indicating a positive sentiment in the financial market amidst broader market gains.
HKD2.2 Billion Net Inflow from Southbound Trading into TENCENT
Southbound Trading Inflows: TENCENT (00700.HK) saw significant Southbound Trading net inflows of HKD2.2 billion, while SMIC (00981.HK) experienced a net outflow of HKD706.8 million.
Short Selling Activity: TENCENT had a short selling amount of $2.71 billion with a ratio of 7.959%, while SMIC's short selling was $181.86 million with a ratio of 3.819%.
Market Performance: At market close, Southbound Trading net outflow totaled HKD0, accounting for 39.97% of the total transaction amount of HKD114.07 billion.
Future Projections: Analysts from Citi and CLSA predict limited impact from Google's Project Genie on TENCENT, with expectations of double-digit growth in its gaming and advertising sectors this year.
HSI Drops 109 Points at Midday as Software and Tech Stocks Weaken; Kingdee Falls Over 14%
Market Reaction to AI Threat: The software industry faced pressure from AI models by Alphabet and Anthropic, leading to declines in US software stocks and a drop in the Hong Kong bourse, with the HSI down 0.4% in the morning session.
Significant Stock Declines: Major tech companies like Tencent, Bilibili, and Meitu experienced substantial losses, with short selling ratios indicating increased market skepticism.
Broader Tech Sector Impact: Other tech stocks, including Alibaba and JD.com, also saw declines, while semiconductor stocks like SMIC and Hua Hong Semi faced significant drops, reflecting a broader downturn in the tech sector.
Resource Stocks Performance: Gold and silver prices rebounded, and oil stocks gained due to rising refined oil prices in mainland China and geopolitical events, with companies like Sinopec and PetroChina seeing modest increases.
