Good morning moomooers! Here are things you need to know about today's Hong Kong:
Hong Kong stocks edged down at the beginning of trade Thursday morning
JD Logistics, Inc. public offering over-subscribed by over 714x, one-lot success rate 8%
Brokers expect Meituan's 1Q loss to widen; focus on community group-buying
The best performing industries after the bell include Forestry and Timberand Publishing
-Moomoo News HK
Market Trend
Hong Kong stocks edged down at the beginning of trade Thursday morning as profit-takers moved in following a healthy two-day rally.
The Hang Seng Index dropped 0.57 per cent or 167.62 points to 28,998.39.
The benchmark Shanghai Composite Index eased 0.21 per cent or 7.62 points to 3,585.73, while the Shenzhen Composite Index on China's second exchange was marginally down, dipping 0.68 point to 2,379.88.$Hua Hong Semiconductor(01347.HK)$ rises nearly 5%, $XIAOMI-W(01810.HK)$ is up 2% after the earnings results, and $Xtep International(01368.HK)$ share price continue to hit new highs.Best Performing Industries
The best performing industries after the bell include Forestry and Timber and Publishing.
source: moomoo
TOP News
JD Logistics, Inc. public offering over-subscribed by over 714x, one-lot success rate 8%
$JD Logistics, Inc.(02618.HK)$, spun off from $JD.com, Inc.-SW(09618.HK)$ and to be listed tomorrow, was over-subscribed by 714.61 times in the public offering. One-lot (100 shares) success rate was 8%.
The stock was priced at $40.36, nearing the lower limit of the offer pricerange $39.36-43.36.
Brokers expect Meituan's 1Q loss to widen; focus on community group-buying, regulation guidance
$Meituan-W(03690.HK)$ will unveil 1Q21 results on 28 May. According to brokers' forecast as compiled by our reporters, the firm's 1Q21 loss may range RMB4.527-6.221 billion. The median estimate is RMB5.513 billion in loss, expanding from the RMB1.579-billion loss in 1Q20.
Investors will focus on the community group-buying price war, as well as Meituan management's regulation guidance.
Source: Business Times, AAstock