Hong Kong Stocks Drop for Second Day As Traders Await Corporate Earnings From Baidu, NetEase, Li Auto

South China Morning Post02-26

Baidu, Li Auto, NetEase and HKEX are among companies to report their quarterly earnings later this weekThe Hang Seng Index climbed to a seven-week high last week, on the back of a three-week market ...

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RichardBaha
02-26
RichardBaha
BYD quote is missing a "1" at the start

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The market is looking for signs of stronger corporate earnings from Baidu, NetEase Li Auto this week to support the recent rebound fuelled by China’s market intervention.</p><p>The Hang Seng Index dropped 0.4 per cent to 16,662.61 at 9.59am local time, extending a retreat from a seven-week high. The Hang Seng Tech Index declined 0.4 per cent while the Shanghai Composite Index lost 0.2 per cent.</p><p>Alibaba Group slipped 0.3 per cent to HK$764.35 and Tencent lost 1.1 per cent to HK$287.80. Baidu slumped 2 per cent to HK$107.70, while online game operator NetEase retreated 1.6 per cent to HK$167.10.</p><p>Tempering losses, Chinese EV maker Li Auto advanced 1.4 per cent to HK$141.10 before its earnings report on Monday. Net income probably more than tripled last quarter from a year earlier. Peer BYD surged 4 per cent to HK$92.60.</p><p>Baidu and NetEase are also due to publish their report cards this week, as is the city’s bourse operator Hong Kong Exchanges and Clearing or HKEX, whose stock slipped 1.3 per cent to HK$249.80.</p><p>Baidu’s fourth-quarter earnings probably fell 3.2 per cent based on global accounting standards, while NetEase’s earnings are forecast to rise 79 per cent, according to consensus estimates by analysts tracked by Bloomberg, while HKEX’s earnings probably fell 8 per cent.</p><p>The Hang Seng Index advanced 2.4 per cent last week after China’s securities regulator clamped down on “market disruption” caused by quantitative hedge funds, and tech stocks got a massive boost globally from AI chip maker Nvidia’s bullish revenue outlook.</p><p>Other major Asian markets were mixed. Japan’s Nikkei 225 climbed 0.8 per cent and Australia’s S&amp;P/ASX 200 added 0.1 per cent, while South Korea’s Kospi retreated 0.8 per cent.</p></body></html>","source":"lsy1600132093512","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong Stocks Drop for Second Day As Traders Await Corporate Earnings From Baidu, NetEase, Li Auto</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong Stocks Drop for Second Day As Traders Await Corporate Earnings From Baidu, NetEase, Li Auto\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-02-26 10:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.scmp.com/business/china-business/article/3253177/hong-kong-stocks-drop-second-day-traders-await-corporate-earnings-baidu-netease-li-auto-back><strong>South China Morning Post</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Baidu, Li Auto, NetEase and HKEX are among companies to report their quarterly earnings later this weekThe Hang Seng Index climbed to a seven-week high last week, on the back of a three-week market ...</p>\n\n<a href=\"https://www.scmp.com/business/china-business/article/3253177/hong-kong-stocks-drop-second-day-traders-await-corporate-earnings-baidu-netease-li-auto-back\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSCEI":"国企指数","HSI":"恒生指数"},"source_url":"https://www.scmp.com/business/china-business/article/3253177/hong-kong-stocks-drop-second-day-traders-await-corporate-earnings-baidu-netease-li-auto-back","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120101364","content_text":"Baidu, Li Auto, NetEase and HKEX are among companies to report their quarterly earnings later this weekThe Hang Seng Index climbed to a seven-week high last week, on the back of a three-week market reboundHong Kong stocks fell for a second day as traders held off bets after a three-week rally. The market is looking for signs of stronger corporate earnings from Baidu, NetEase Li Auto this week to support the recent rebound fuelled by China’s market intervention.The Hang Seng Index dropped 0.4 per cent to 16,662.61 at 9.59am local time, extending a retreat from a seven-week high. The Hang Seng Tech Index declined 0.4 per cent while the Shanghai Composite Index lost 0.2 per cent.Alibaba Group slipped 0.3 per cent to HK$764.35 and Tencent lost 1.1 per cent to HK$287.80. Baidu slumped 2 per cent to HK$107.70, while online game operator NetEase retreated 1.6 per cent to HK$167.10.Tempering losses, Chinese EV maker Li Auto advanced 1.4 per cent to HK$141.10 before its earnings report on Monday. Net income probably more than tripled last quarter from a year earlier. Peer BYD surged 4 per cent to HK$92.60.Baidu and NetEase are also due to publish their report cards this week, as is the city’s bourse operator Hong Kong Exchanges and Clearing or HKEX, whose stock slipped 1.3 per cent to HK$249.80.Baidu’s fourth-quarter earnings probably fell 3.2 per cent based on global accounting standards, while NetEase’s earnings are forecast to rise 79 per cent, according to consensus estimates by analysts tracked by Bloomberg, while HKEX’s earnings probably fell 8 per cent.The Hang Seng Index advanced 2.4 per cent last week after China’s securities regulator clamped down on “market disruption” caused by quantitative hedge funds, and tech stocks got a massive boost globally from AI chip maker Nvidia’s bullish revenue outlook.Other major Asian markets were mixed. Japan’s Nikkei 225 climbed 0.8 per cent and Australia’s S&P/ASX 200 added 0.1 per cent, while South Korea’s Kospi retreated 0.8 per cent.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":6,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1120101364"}