HONG KONG ECONOMIC TIMES, 26th - U.S. President Trump mentioned during a midterm election rally that there could be a new wave of military action against Iran, sparking market concerns over escalating tensions in the Middle East and driving oil prices higher. Last Friday, U.S. stocks were generally under pressure, and Japanese and South Korean markets were weak this morning. The Hang Seng Index opened at 23,156, up 63 points or 0.3%, with board turnover of HK$1.799 billion. The Hang Seng China Enterprises Index stood at 7,777, up 21 points or 0.3%. The Hang Seng Tech Index was at 3,888, up 16 points or 0.4%.
Techtronic Industries (00669) rose 5.7% to HK$136.5; NetEase (09999) gained 5% to HK$192.1; Zijin Mining (02899) fell 1.6% to HK$29; these were the two largest gainers among blue-chip stocks.
Spot gold fell below US$4,000 per ounce, causing gold mining stocks to open lower across the board. Zijin Mining (02899) dropped 1.6% to HK$29; Zhaojin Mining Industry (01818) declined 1.5% to HK$16.3; Shandong Gold (01787) fell 2.6% to HK$16.98; Lingbao Gold (03330) dropped 1.9% to HK$16.44; Chifeng Gold (06693) fell 3.6% to HK$30.12.
Hisense Home Appliances (00921) reported a net profit of RMB191 million in the third quarter, down 74.00% year-on-year; net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, was RMB16.6781 million, down 96.73% year-on-year; basic earnings per share was RMB0.14. Hisense Home Appliances fell 9.6% to HK$17.59.
Lens Technology (06613) posted a net profit of over RMB1.4 billion in the first three quarters, down 50%, with revenue down nearly 11%. The stock fell 6.1% to HK$15.39.
Haitong Hengxin (01905) received a takeover offer from Shanghai International at an 80% premium for a 51% equity stake, and opened 16% higher this morning. (vs)
Techtronic Industries (00669) rose 5.7% to HK$136.5; NetEase (09999) gained 5% to HK$192.1; Zijin Mining (02899) fell 1.6% to HK$29; these were the two largest gainers among blue-chip stocks.
Spot gold fell below US$4,000 per ounce, causing gold mining stocks to open lower across the board. Zijin Mining (02899) dropped 1.6% to HK$29; Zhaojin Mining Industry (01818) declined 1.5% to HK$16.3; Shandong Gold (01787) fell 2.6% to HK$16.98; Lingbao Gold (03330) dropped 1.9% to HK$16.44; Chifeng Gold (06693) fell 3.6% to HK$30.12.
Hisense Home Appliances (00921) reported a net profit of RMB191 million in the third quarter, down 74.00% year-on-year; net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, was RMB16.6781 million, down 96.73% year-on-year; basic earnings per share was RMB0.14. Hisense Home Appliances fell 9.6% to HK$17.59.
Lens Technology (06613) posted a net profit of over RMB1.4 billion in the first three quarters, down 50%, with revenue down nearly 11%. The stock fell 6.1% to HK$15.39.
Haitong Hengxin (01905) received a takeover offer from Shanghai International at an 80% premium for a 51% equity stake, and opened 16% higher this morning. (vs)
