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Debutant Stocks Mixed in Hong Kong Trading

by 198 Philippines News
February 18, 2022
in PHILIPPINES USA TRADE NEWS
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By Clarence Leong

Two corporations had blended debuts on the Hong Kong Change on Friday, as latest market volatility continued to weigh on investor sentiment for brand spanking new choices.

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Whereas Alibaba Group Holding Ltd.-backed Huitongda Community Co. was up 1.9% at HK$43.80 in afternoon commerce, Readability Medical Group Holding Ltd. shares had been 5.0% decrease at HK$1.52.

Huitongda Community, which focuses on promoting items and offering supply-chain providers in China’s rural areas, had raised a complete of two.10 billion Hong Kong {dollars} (US$269.3 million) in its preliminary public providing. The corporate’s shares opened 1.3% greater towards the supply value of HK$43.00.

The corporate, wherein Alibaba holds a 19% stake, had earlier this week priced the IPO on the decrease finish of the guided value vary of HK$43.00-HK$48.00.

Shares of Readability Medical, a Hong Kong-based ophthalmic-services supplier, opened 0.6% decrease in contrast with its supply value of HK$1.60.

International markets have been roiled in latest weeks amid investor worries over a possible battle between Russia and Ukraine in addition to in anticipation of a fee enhance by the Federal Reserve. The Grasp Seng Index has misplaced 0.8% to this point this week.

Write to Clarence Leong at clarence.leong@wsj.com

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