HK Tech Stocks Drop on No Fiscal Stimulus

BrianTycangcoé„­ćœ„æžŠ
10-09

$HSTECH(HSTECH)$ melts đŸ”» by 12.8% following the NDRC’s announcement that didn’t lead to more big fiscal stimulus. One of the highest volume days on record and declines despite mainland investors returning from a weeklong holiday.

$KraneShares CSI China Internet ETF(KWEB)$ $KraneShares Bosera MSCI China A 50 Connect Index ETF(KBA)$ $iShares MSCI China ETF(MCHI)$ $KraneShares Hang Seng TECH Index ETF(KTEC)$ $CoreValues Alpha Greater China Growth ETF(CGRO)$

Biggest losses suffered by semiconductor/AI names like $HUA HONG SEMI(01347)$ -23%, $SMIC(00981)$ -19% and $SENSETIME-W(00020)$ -21%. OUCH.

Expect big markdowns when US markets open as many HK names closed well below their ADR listings:

$BABA-W(09988)$ 8.4% discount

$JD-SW(09618)$ 10.8%

$NTES-S(09999)$ 8.8%

$BIDU-SW(09888)$ 9.9%

$BILIBILI-W(09626)$ 15.3%

$TME-SW(01698)$ 12.0%

$NIO-SW(09866)$ 11.7%

$XPENG-W(09868)$ 11.3%

$LI AUTO-W(02015)$ 11.6%

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https://x.com/BrianTycangco/status/1843574678193090747

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