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<H Shrs>HSI Drops 322 Pts at Midday; CN Insurers, Brokers Ebb; Chips Rally Against Mkt
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The HSI ended the midday down 322 points or 1.2% at 26,136. The HSCEI fell 103 points or 1.1% to 9,034. The HSTECH dropped 64 points or 1.1% to 5,673. The total market turnover for the half-day amounted to HKD130.645 billion.

Regarding freshly debuted stocks, KNOWLEDGE ATLAS (02513.HK) reached HKD129.8 at midday, up 11.7% from its listing price of HKD116.2. ILUVATAR COREX (09903.HK) was at HKD160.7, up 11.1% from its listing price of HKD144.6. EDGE MEDICAL-B (02675.HK) hit HKD55.85, up 29.2% from its listing price of HKD43.24.

Related NewsPPI YoY for Dec in China is -1.9%, higher than the previous value of -2.2%. The forecast was -2%.
Following a shareholder meeting to vote on privatization plans, HANG SENG BANK (00011.HK) concluded the midday flat at HKD153.8. HSBC HOLDINGS (00005.HK) slipped 2.5% to HKD124. Among other financial stocks, HKEX (00388.HK) dipped 1%. AIA (01299.HK) and STANCHART (02888.HK) eroded 2.3% and 2.1%.

CITIC SEC (06030.HK) plunged 4.2% amid reports that its A-shares suffered from massive sell-offs at yesterday's (7th) close. Its peers also caved under pressure. CICC (03908.HK), CSC (06066.HK), and CGS (06881.HK) plummeted 3.4-3.8%. HTSC (06886.HK) faded 4.6%.

Chinese insurers CHINA TAIPING (00966.HK), PICC GROUP (01339.HK), PICC P&C (02328.HK), and ZA ONLINE (06060.HK) waned 2.4-3%. PING AN (02318.HK) edged 0.7% lower.

Related NewsInflation Rate YoY for Dec in China is 0.8%, higher than the previous value of 0.7%. The forecast was 0.9%.
In the tech sector, BIDU-SW (09888.HK) retreated 3.5%, even though Kunlunxin's IPO is reportedly aiming to raise up to HKD15.6 billion. TENCENT (00700.HK), BABA-W (09988.HK), and JD-SW (09618.HK) fell 1.5-1.7%. MEITUAN-W (03690.HK) and KUAISHOU-W (01024.HK) shed 2.8% and 2.5%. NTES-S (09999.HK) inched down 1%. In contrast, chip stocks SMIC (00981.HK), BIREN TECH (06082.HK), and HUA HONG SEMI (01347.HK) rallied 2.2-3.2%.
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