On Wednesday, May 8, Federal Reserve officials were hawkish overnight, and the three major U.S. stock indexes were mixed, with the Nasdaq China Golden Dragon Index falling more than 2%. The three major A-share indexes collectively opened lower and continued to decline in early trading; The Hang Seng Index, which was interrupted yesterday, resumed its upward trend at the beginning of the session, and the Hang Seng Technology Index rose more than 1% in early trading, but turned down in the intraday.
As of noon close, the A-share Shanghai Composite Index fell 0.41%, the Shenzhen Component Index fell 1.17%, and the ChiNext Index fell 0.58%; The Hong Kong stock Hang Seng Index fell 0.37%, and the Hang Seng Technology Index fell 0.63%, with a half-day turnover of HK$67.2 billion.
On the disk, coal stocks, power stocks, aquaculture, and electronic parts sectors performed actively, and low-altitude economy, automobiles, and real estate sectors pulled back.
Hong Kong technology stocks pulled back, and Xiaomi rose sharply against the market
Among the five major technology stocks of ATMJX, Ali fell more than 2%, Meituan and Tencent fell more than 1%, and Xiaomi rose nearly 7%.
On the news side, Citi analyst Kyna Wong pointed out in a report that the company's stock price is expected to be supported by strong first-quarter results for Xiaomi to start a 30-day positive catalytic observation. The launch of the Mix Fold4 phone will also showcase Xiaomi's strength in high-end models. Xiaomi is expected to release its results on May 23.
CICC also expects Xiaomi's adjusted net profit in 1Q24 to increase by 70.7% year-on-year.
Coal stocks were among the top gainers
In the Shanghai, Shenzhen and Hong Kong markets, coal stocks were active.
In terms of A-shares, Jinkong Coal Industry rose by the limit, and Shaanxi Coal, Yankuang Energy, Lu'an Environmental Energy, and Pingmei Shares followed suit.
In terms of Hong Kong stocks, China Coal Energy and Jiutai Bangda rose about 6%, while Yankuang Energy, China Qinfa and Mongolian coking coal followed suit.
The concept of synthetic biology is repeatedly active
Azure Biotech rose by the limit, Berry Gene, Angel Yeast, and Jindawei rose by about 6%, and Fuxiang Pharmaceutical followed suit.
The aquaculture sector performed strongly
Wen's shares rose more than 2%, and superstar agriculture and animal husbandry followed suit.
Auto stocks fell across the board
Xpeng and Ideal fell about 5%, BAIC, Great Wall, and BYD fell about 2%, and GAC and NIO fell more than 1%.
The real estate sector pullback
Nanguo Real Estate fell to the limit, and Dalong Real Estate, Jingneng Real Estate, and Rongsheng Development fell about 6%.
The real estate sector in Hong Kong stocks was miserable, with Shimao Group falling about 10%, and Sino-Ocean, Longfor, and Agile all falling more than 8%.
AI concept stocks fell
Weihaide fell more than 7%, Tuowei Information fell more than 6%, and 360 and other stocks fell more than 3%.
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