[Hong Kong stocks close] Hang Seng Index fell 119 points. Tencent rose 2%, Meituan rose more than 4%, and Kuaishou fell 12% (ongoing updates)

【Hang Seng Index/HSI/Hang Seng Index/恒指/港股/夜期/ADR】Hong Kong stocks fluctuate and fall by more than 100 points. The Hang Seng Index opened down 47 points at 23,568 points, turned up by as much as 204 points in the early session, and peaked at 23,820 points before dropping again. The Hang Seng Index fell 119 points to close at 23,496 points, with turnover of HK$319.7 billion. The Hang Seng TECH Index fell 0.8% to 4,507 points. Tencent (00700) rose 2% against the trend, Meituan (03690) rose more than 4%, Kuaishou (01024) plunged 12%, and Semiconductor Manufacturing International (00981) fell 3%. XL South Korea SK hynix (07709) fell more than 15%, and XL Samsung (07747) fell more than 16%.

US stock developments are continuously updated—see more on the next page:

Finance diary:

In-session moves:

【16:10】Hang Seng Index fell 119 points to close at 23,496 points, with turnover of HK$319.7 billion. The Hang Seng TECH Index fell 0.8% to 4,507 points. Tencent (00700) rose 2% against the trend, Meituan (03690) rose more than 4%, Kuaishou (01024) plunged 12%, and Semiconductor Manufacturing International (00981) fell 3%. XL South Korea SK hynix (07709) fell more than 15%, and XL Samsung (07747) fell more than 16%.

【16:06】 【MPF】 Mandatory Provident Fund Schemes Authority announces optimization of the approval mechanism for gold ETFs, changing from individual approvals to category-based approvals

【16:00】Hang Seng Index U-plate before the market fell 132 points to 23,483 points, with turnover of HK$310.35 billion.

【15:41】 【Stock Connect】 China Foreign Exchange Trade System will build a fixed-income currency trading platform with HKEX. Liang Fengyi: not a substitute for existing trading channels

【15:08】Hong Kong stocks at the close fell about 200 points, to around the 23,400-point level.

【13:48】Kuaishou (01024) latest fell nearly 12%, low at 40.48 yuan.

【13:42】Zhipu (02513) widened its gain in the afternoon, having risen more than 10% to a high of 1,689 yuan.

【13:38】 【AI + Cloud】 Bank of America expects China’s cloud service providers to do better than AI labs; it expects that AI cloud will help the size of China’s cloud market reach 1.7 trillion yuan by 2030

【13:38】 【Korean stock market】 The KOSPI index fell 8%, triggering a circuit-breaker mechanism. SK hynix and Samsung Electronics fell by about 10% each; 7709 and 7747 both dropped by more than 20%

【13:14】The market’s decline widened slightly to 170 points.

【13:01】Hong Kong stocks in the afternoon early session fell about 120 points, to 23,496 points. XL South Korea SK hynix (07709) fell more than 23% in the afternoon, and XL Samsung (07747) fell more than 21%.

【12:33】 【RMB business】 Hong Kong Monetary Authority: RMB business funding allocation quota increased by 17k to 500 billion; promotes a 7-day offshore RMB liquidity bidding mechanism

【12:14】 【2513】 Zhipu shares rose half a percent against the trend. It clarified and withdrew a statement about an advisory filing report that was untrue concerning the proposed initial public offering of A shares

【12:00】The Hang Seng Index swung and fell 98 points in the first half-day to 23,517 points, with turnover of HK$187.04 billion. The Hang Seng TECH Index fell 0.3% to 4,528 points. Tencent (00700) rose nearly 3% against the trend, Kuaishou (01024) fell more than 9%. Semiconductor Manufacturing International (00981) fell 3%, while XL South Korea SK hynix (07709) and XL Samsung (07747) fell more than 19% each.

【11:52】Kuaishou (01024) dropped 10% to a low of 41.38 yuan.

【11:42】 【Gold trading】 Aiqiao Zhi: HSBC completed settlement of more than 6 gold trades based on “HAU” quotations; expects to expand Hong Kong’s gold storage capacity to 200 tons within the coming months

【11:25】Before the lunch close, the Hang Seng Index fell about 80 points to 23,535 points.

【11:06】 【Bond market】 Aiqiao Zhi: Hong Kong’s bond market has 3 features. Zhang Hui: Hong Kong should build a one-stop platform to attract capital and help China-based firms expand overseas

【11:03】 【MPF】 MPF ratings: the average gain per person in the MPF in the first half of the year was 18,500 yuan

【10:58】 【Gold trading】 Leung Chun-ying: Hong Kong’s gold central clearing and settlement system has started trial operation; study and develop new RMB gold futures contracts

【10:49】XL South Korea SK hynix (07709) fell 17%; XL Samsung (07747) fell 19%.

【10:49】The market fell again, down about 45 points.

【10:30】Earlier this morning the Hang Seng Index rose by as much as 204 points to a high of 23,820 points; however, the latest gain narrowed to only about 25 points, reporting 23,641 points.

【09:54】PBOC Governor Pan Gongsheng: Bond Connect Southbound annual net investment quota will be raised to 800 billion yuan; support the Hong Kong Monetary Authority’s RMB business funding allocation scale rising to 500 billion yuan and extend the usage period to 3 years

【09:41】HSBC (00005) rose 1% and broke to a top high of 154.4 yuan; Standard Chartered (02888) rose nearly 2% to a top high of 226.6 yuan.

【09:39】The market turned up early, by about 30 points.

【09:39】Tencent (00700) rose nearly 4%, Alibaba (09988) rose 1%, Meituan (03690) rose more than 5%, and Xiaomi (01810) rose more than 3%.

【09:26】 【New stock IPO】 Tongrentang Health (2667) debuted at an offer price more than 13% lower with the price gap; one lot lost 370 yuan; attracted 66k applicants with 250.7 times oversubscription

【09:22】The Hang Seng Index opened down 47 points at 23,568 points, with turnover of HK$14.38 billion. The Hang Seng TECH Index fell 0.4% to 4,524 points. Tencent (00700) rose more than 1% against the trend, Kuaishou (01024) fell 6%, and Mao Ji Kai Ying (01716) rose more than 14%.

【700】Tencent cuts its stake in Kuaishou, cashing out up to HK$12.2 billion; its holding drops to 9.37%

【09:09】Hang Seng Index black futures fell about 6 points to 23,519 points.

【07:55】 【1716】 Mao Ji Kai Ying places discounted share placement with a discount of nearly 20% to raise 230 million, for developing new environmental protection and sustainable development businesses, and expanding existing media businesses

【07:45】 【Morning精點】 SK hynix launches US$28.2 billion US listing plan｜Tencent rolls out Hunyuan hy3 model｜Apple extends its chip collaboration with Broadcom to 2031

【07:45】The night futures close rose 26 points to 23,571 points. The CSI China Concept Stocks Index rose 1.7% to 6,013 points. The US-listed Baidu ADR rose 1.5% versus Hong Kong stocks; car stocks’ ADR performed well.

More Hong Kong stocks ADR and China concept stocks quotes:

【07:30】The Dow opened lower and then rebounded; it closed up 155 points to 53,055 points, above the 53,000-point level. The S&P 500 rose 0.72% and the Nasdaq rose 1.12%.

Watch the US stock close live:

Hong Kong stocks’ prior-session market performance, see more: 【Hang Seng night futures + ADR + Northbound funds】The night futures close rose 26 points; Baidu US ADR rose 1.5%; car stocks ADR also turned positive