Greater China Stocks Slip; Shanghai Sees Largest Decline

Zijin Mining Group plans to acquire Zangge Mining , according to a Hong Kong Stock Exchange filing on Friday.

Zijin is negotiating with Tibet Zangge Venture Capital Group and its concert party, and Ningbo Meishan Bonded Port Area Xinsha Hongyun Investment Management for the potential acquisition, the Chinese mining company said.

The company's shares rose less than 2% in recent trade.

Zijin's Hong Kong shares jumped less than 4% and Shanghai shares rose less than 2% in recent trade.

Zijin Mining Group plans to acquire Zangge Mining , according to a Hong Kong Stock Exchange filing on Friday.

Zijin is negotiating with Tibet Zangge Venture Capital Group and its concert party, and Ningbo Meishan Bonded Port Area Xinsha Hongyun Investment Management for the potential acquisition, the Chinese mining company said.

The company's shares rose less than 2% in recent trade.

Zijin's Hong Kong shares jumped less than 4% and Shanghai shares rose less than 2% in recent trade.

Hong Kong stocks closed in red again on Thursday as traders' concerns over a possible deflation became apparent following the data showing a slowing inflation together with a continuing decline in producer prices.

The Hang Seng Index fell 0.20%, or 38.95 points, to close at 19,240.89 on Thursday. The Hang Seng China Enterprises Index fell 0.17%, or 11.68 points, to end at 6,978.97.

China's consumer price index rose 0.1% year on year in December 2024, down from the 0.2% rise the previous month and marked the slowest pace since April 2024. The reading was in line with the expectations of economists surveyed by Reuters.

Additionally, the producer price index declined 2.3% year over year in December 2024, easing from the decrease of 2.5% in the previous month. The recent figure was slightly better than the 2.4% decline estimated by Reuters, but marked the 27th straight month of decline.

In market news, Xiaomi and Semiconductor Manufacturing International closed over 3% and nearly 3% higher respectively, while Tencent closed over 1% higher on Thursday. At the same time, Meituan finished nearly 2% lower while Alibaba Group stayed in the red.

In corporate news, Anhui Conch Material Technology 2 made a weak trading debut in Hong Kong Thursday morning as its shares dropped 40% at the opening bell. The China-based cement and concrete admixture producer opened at HK$1.80 per share, well below its IPO price of HK$3.00, and closed at HK$1.57.

Contiocean Environment Tech Group 2 made a strong trading debut in Hong Kong Thursday morning as its shares rose about 7% at the opening bell. The China-based maritime environmental protection equipment and system provider opened at HK$33.95 per share, above its IPO price of HK$31.80, and closed at HK$33.80.

This article was automatically generated by Dow Jones using technology from Automated Insights.

Stocks in Greater China fell on Thursday.

Hong Kong's Hang Seng Index slipped 0.1% to 19264.80, and China's Shanghai Composite Index slipped 0.6% to 3211.39. The Taiwan Taiex index fell 1.4% to 23081.13.

Among Hang Seng constituents, Li Ning Co. Ltd. posted the largest decline, dropping 5.5%, followed by shares of Zhongsheng Group Holdings Ltd., which fell 3.9%. Shares of Li Auto Inc. fell 3.9%.

Tingyi (Cayman Islands) Holding Corp. was the biggest gainer among companies on the Hang Seng, surging 13%, and China Hongqiao Group Ltd. surged 5.3%. Anta Sports Products Ltd. rounded out the top three movers on Thursday, as shares gained 4.3%.

Among large mainland China stocks, Shandong Kexing Bioproducts Co. Ltd. A posted the largest decline, dropping 11%, followed by shares of Zhejiang Aokang Shoes Co. Ltd., which dropped 10%. Shares of Shandong Lukang Pharmaceutical Co. Ltd. A dropped 10%.

Baotailong New Materials Co. Ltd. A was the biggest gainer during the session, surging 10%, and Liaoning Shidai Wanheng Co. Ltd. A surged 10%. Epoxy Base Electronic Material Corp. Ltd. rounded out the top three movers on Thursday, as shares surged 10%.

In Taiwan, Lemtech Holdings Co. Ltd. posted the biggest decline among large companies, dropping 10%, followed by shares of Asia Optical Co. Inc., which dropped 9.9%. Shares of KHGears International Ltd. dropped 9.8%.

Vactronics Technologies Inc. was the biggest gainer among large Taiwan companies during the session, surging 10%, and Tingyi (Cayman Islands) Holding Corp. TDR surged 9.9% Adimmune Corp. rounded out the top three movers, as shares surged 9.8%.

On the currency front, the onshore yuan held steady against the U.S. dollar at CNY7.33 while the New Taiwan dollar weakened 0.2% against the U.S. dollar at NT$32.93.

Data source: Dow Jones Market Data, FactSet

Zijin Mining Group is donating 30 million yuan to an earthquake-affected area in Shigatse, Tibet, a Wednesday bourse filing by the miner said.

A 6.8-magnitude earthquake struck Tingri County in Shigatse City, Tibet, on Tuesday causing significant casualties and the collapse of numerous buildings.

The donation will be used for emergency relief efforts in the affected area, livelihood assistance for the affected population, support for rescue teams, post-disaster reconstruction, and other relevant works.

Hong Kong stocks fell for the third straight session as authorities tried to overcome the deflated economic situation in the country while facing concerns over a strong US labor market that will likely keep the Federal Reserve from making any more interest rate cuts this year.

The Hang Seng Index fell 0.86%, or 167.74 points, to close at 19,279.84 on Wednesday. The Hang Seng China Enterprises Index fell 0.84%, or 59.06 points, to end at 6,990.65.

Hong Kong's foreign currency reserves declined to $421.4 billion at the end of December 2024 from $425.1 billion as of the end of November, according to a Tuesday press release by the Hong Kong Monetary Authority.

In corporate news, Tencent closed nearly 3% lower on Wednesday, while Xiaomi finished nearly 4% lower. Meituan , Alibaba Group , and Semiconductor Manufacturing International all closed in red on Wednesday.

In corporate news, BrainAurora Medical Technology 6 raised HK$501.3 million in net proceeds from its initial public offering in Hong Kong. The cognitive impairment digital therapeutics software developer opened at HK$3.22 per share, the same as its listing price, and closed at HK$3.33 on Wednesday.