HSI Crashes 185 pts; LI NING Crumbles 11%
Hong Kong equities were unable to mimic the robust performance of the external markets this morning. At open, $Hang Seng Index(800000.HK$ waned 185 pts or 1.1% to 16,149; $Hang Seng China Enterprises Index(800100.HK$ fell 79 pts or 1.4% to 5,518; $Hang Seng TECH Index(800700.HK$ dropped 48 pts or 1.3% to 3,657.
$LI NING(02331.HK$ is splurging $2.2 billion to acquire $HENDERSON LAND(00012.HK$ 's "Harbour East" as its Hong Kong headquarters. LI NING's stock price crashed 11% at open, making it the worst-performing blue-chip stock. On the other hand, $LENOVO GROUP(00992.HK$ shot up 1.8%, making it the best-performing blue-chip stock.
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HopelessChi : Mirroring the GFC situation but this is only within China. Burned in fire for investors. Hopeless financial market. Lost so much money in this China dream