Hong Kong Stocks End Week Flat; NetEase Plunges 10% on Q2 Profit Decline

MT Newswires Live08-23

Hong Kong stocks fell marginally on Friday, ending the week flat in negative territory, as investors remain cautious amid weak earnings while awaiting more information expected later today on potential US rate cuts.

The Hang Seng Index marginally fell to finish today's session at 17,612.1. The Hang Seng China Enterprises Index saw a minor decrease at 6,219.24.

Multiple companies on the Hong Kong bourse saw their shares plunge after posting disappointing earnings. NetEase (HKG:9999) fell by over 10% after it posted a decline in attributable profit for the second quarter to 6.76 billion yuan.

Build King Holdings (HKG:0240) also dropped nearly 9% after its attributable profit for the first half plunged to HK$148.2 million from HK$250.3 million a year prior.

Hong Kong stocks also took cues from Wall Street, which saw a sell-off amid uncertainty regarding potential rate cuts due to mixed economic data coming to the forefront in recent times, a South China Morning Post report said.

The central bank's chair, Jerome Powell, will give a speech later today and is expected to hint at the direction the US Fed may take with regard to a rate cut.

Limiting losses, Ascentage Pharma Group International (HKG:6855) rose 3% after it turned to an attributable profit of 163 million yuan for the six months ended June 30 from a 402.4 million yuan year-ago loss.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2461510415?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-08-23 16:43","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2461510415","market":"sg","top_or_hot":-1,"title":"Hong Kong Stocks End Week Flat; NetEase Plunges 10% on Q2 Profit Decline","media":"MT Newswires Live","content":"<html><body><p> Hong Kong stocks fell marginally on Friday, ending the week flat in negative territory, as investors remain cautious amid weak earnings while awaiting more information expected later today on potential US rate cuts.</p><p>The Hang Seng Index marginally fell to finish today's session at 17,612.1. The Hang Seng China Enterprises Index saw a minor decrease at 6,219.24.</p><p>Multiple companies on the Hong Kong bourse saw their shares plunge after posting disappointing earnings. NetEase (HKG:9999) fell by over 10% after it posted a decline in attributable profit for the second quarter to 6.76 billion yuan.</p><p>Build King Holdings (HKG:0240) also dropped nearly 9% after its attributable profit for the first half plunged to HK$148.2 million from HK$250.3 million a year prior.</p><p>Hong Kong stocks also took cues from Wall Street, which saw a sell-off amid uncertainty regarding potential rate cuts due to mixed economic data coming to the forefront in recent times, a South China Morning Post report said.</p><p>The central bank's chair, Jerome Powell, will give a speech later today and is expected to hint at the direction the US Fed may take with regard to a rate cut.</p><p>Limiting losses, Ascentage Pharma Group International (HKG:6855) rose 3% after it turned to an attributable profit of 163 million yuan for the six months ended June 30 from a 402.4 million yuan year-ago loss.</p></body></html>","source":"mtnewswires_news","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 End Week Flat; NetEase Plunges 10% on Q2 Profit Decline</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 End Week Flat; NetEase Plunges 10% on Q2 Profit Decline\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-23 16:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hong Kong stocks fell marginally on Friday, ending the week flat in negative territory, as investors remain cautious amid weak earnings while awaiting more information expected later today on ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0348805143.USD","symbol_name":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2461510415","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2461510415","pubTimestamp":1724402583,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Hong Kong stocks fell marginally on Friday, ending the week flat in negative territory, as investors remain cautious amid weak earnings while awaiting more information expected later today on potentia","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"513600":"恒生指数ETF","LU0348805143.USD":"ALLIANZ ENHANCED ALL CHINA EQUITY \"A\" (USD) INC","LU0561508036.HKD":"ALLIANZ CHINA EQUITY \"A\" (HKD) INC","00240":"利基控股","IE0008368742.USD":"首域中国增长基金I Acc","LU0456846285.SGD":"JPMorgan Funds - Greater China A (acc) SGD","BK4532":"文艺复兴科技持仓","LU0594300419.USD":"富达中国消费基金A","LU0540923850.HKD":"ALLIANZ HONG KONG EQUITY \"A\" (HKD) INC","BK1148":"建筑与工程","LU1226287529.USD":"UBS (LUX) KEY SELECTION SICAV - CHINA ALLOCATION  OPPORTUNITY (USD) \"P\" (USD) ACC","02833":"恒指ETF","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","NTES":"网易","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","BK1104":"互动家庭娱乐","BK4577":"网络游戏","HSI":"恒生指数","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","LU0359201885.HKD":"BGF CHINA \"A2\" (HKD) ACC","06855":"亚盛医药-B","LU0650527681.SGD":"Fidelity China Consumer A-SGD","LU1807302812.USD":"UBS (LUX) EQUITY SICAV ALL CHINA \"P\" (USD) ACC","LU1226287792.SGD":"UBS (LUX) KEY SEL S-CHINA ALLOCATION OPP \"P\" (SGDHDG) INC","LU0634319403.HKD":"ALLIANZ HONG KONG EQUITY \"AT\" (HKD) ACC","LU0890818403.SGD":"JPMorgan Funds - Emerging Markets Dividend A (mth) SGD-H","BK4588":"碎股","BK4503":"景林资产持仓","LU0501845795.SGD":"瑞银大中华区股票基金P Acc SGD","09999":"网易-S","LU1226288253.USD":"UBS (LUX) KEY SELECTION SICAV - CHINA ALLOCATION  OPPORTUNITY (USD) \"P\" (USD) INC","LU0431992006.USD":"摩根大通新兴市场机会A（acc）","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK4505":"高瓴资本持仓","BK4085":"互动家庭娱乐","LU0072913022.USD":"UBS (LUX) EQUITY FUND -  GREATER CHINA \"P\" (USD) ACC"},"translate_title":"港股本周收盘持平；网易第二季度利润下降，暴跌10%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"513600":0.6,"NTES":1,"06855":0.9,"09999":0.9,"00240":0.9,"HSI":0.9,"US10Y.BOND":0.6,"US12M.BOND":0.6,"US2Y.BOND":0.6,"US30Y.BOND":0.6,"US3Y.BOND":0.6,"US5Y.BOND":0.6,"US6M.BOND":0.6,"US7Y.BOND":0.6,"US912797GL51.BOND":0.6,"US912797GW17.BOND":0.6,"US912797HE00.BOND":0.6,"MCHmain":0.6,"02833":0.6,"HHImain":0.6},"content_text":"Hong Kong stocks fell marginally on Friday, ending the week flat in negative territory, as investors remain cautious amid weak earnings while awaiting more information expected later today on potential US rate cuts.The Hang Seng Index marginally fell to finish today's session at 17,612.1. The Hang Seng China Enterprises Index saw a minor decrease at 6,219.24.Multiple companies on the Hong Kong bourse saw their shares plunge after posting disappointing earnings. NetEase (HKG:9999) fell by over 10% after it posted a decline in attributable profit for the second quarter to 6.76 billion yuan.Build King Holdings (HKG:0240) also dropped nearly 9% after its attributable profit for the first half plunged to HK$148.2 million from HK$250.3 million a year prior.Hong Kong stocks also took cues from Wall Street, which saw a sell-off amid uncertainty regarding potential rate cuts due to mixed economic data coming to the forefront in recent times, a South China Morning Post report said.The central bank's chair, Jerome Powell, will give a speech later today and is expected to hint at the direction the US Fed may take with regard to a rate cut.Limiting losses, Ascentage Pharma Group International (HKG:6855) rose 3% after it turned to an attributable profit of 163 million yuan for the six months ended June 30 from a 402.4 million yuan year-ago loss.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"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":"4.29.1","shortVersion":"4.29.1","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/2461510415"}