Futu Information reported on October 20 that the three major indexes of Hong Kong stocks fell collectively. As of press time, the Hang Seng Index fell 2.24%, the Hang Seng Technology Index fell 3.31%, and the State-owned Enterprise Index fell 2.44%.
Big tech stocks fell again,Baidu fell by nearly 9%, Bilibili fell by nearly 7%, NetEase and JD.com fell by nearly 6%, Ali and Meituan fell by more than 5%, and Tencent and Kuaishou fell by about 4%.
Auto stocks tumbledWeilai fell by more than 9%, BYD, Ideal, and Xiaopeng fell by nearly 5%, and Geely Automobile and Great Wall Motor fell by nearly 4%.
Gaming stocks continue to fall,Wynn Macau and Melco International fell about 7%, Sands China fell nearly 6%, and SJM Holdings fell nearly 4%.
Sporting goods stocks continued to fall,Li Ning fell by more than 7%, Xtep and Bosideng fell by nearly 4%, Anta fell by more than 3%, and Taobo and 361 degrees followed suit.
Shipping stocks generally fell,COSCO SHIPPING Energy and Orient Overseas International fell about 5%, while COSCO SHIPPING Holdings and SITC fell nearly 4%.
For individual stocks,Sands China Co., Ltd. (01928.HK) fell nearly 6% after the results, and its net loss in the third quarter expanded by 11.58% year-on-year to US$472 million. Lyon said Macau’s gaming industry’s third-quarter earnings performance was the worst since the third quarter of 2020.
BYD shares (01211.HK) fell nearly 6%, and institutions said that the market’s 2023 fiscal year earnings of car companies may be significantly overestimated.
$Li Ning (02331.HK)$ continued to fall by more than 7%, and has fallen by nearly 16% this week. CICC lowered the company’s EPS forecast for 2022/23 and lowered the target price by 19%.
$Weibo-SW(09898.HK)$ fell nearly 6%. Bank of America expects the company to be more affected by the exchange rate in Q4 and lowered its target price.
$Pacific Shipping (02343.HK)$ fell more than 6% to lead the decline in shipping stocks. The decline in demand combined with the increase in shipping capacity. The SCFI index has fallen for 17 consecutive weeks.
$Fosun International (00656.HK)$ rose nearly 4% in intraday trading after the resumption of trading. As of press time, the stock edged up 0.21%. On the news, the company plans to sell 60% of Nanjing Nangang Iron and Steel United to Shagang Group for no more than 16 billion yuan.
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