Notable Gainers and Losers of Friday; Auto Sector Down

Some Chinese companies ended the week on a high note, while the auto sector was in the red Friday.

Belinda Zhou
    Feb 14, 2020 3:00 PM  PT
Notable Gainers and Losers of Friday; Auto Sector Down
author: Belinda Zhou   

Main broad-based indexes on mainland China, Hong Kong and the U.S. rose on Friday, while the Dow Jones slid 0.09%.

Gainers:

Companies in China's healthcare sector gained some ground in the markets Friday. Specifically, those selling Chinese traditional medicines used to relieve anxiety amid the coronavirus outbreak saw an uptrend.

Luqi Huang, Dean of China Academy of Chinese Medical Sciences, said Friday that people have an urgent need for traditional Chinese medicines to help calm nerves. 

The stock price of Happiness Biotech Group Ltd. (Nasdaq: HAPP) continued to soar on Friday, ending 10% up at $4.74 per American depositary share. That followed a 23% skyrocketing of the company's shares on Thursday. Amid the outbreak of the Wuhan coronavirus, the biotech company said on Jan. 28 that sales of its nutritional products aimed at improving immunity soared more than 100% in January.

Another healthcare player, 111 Inc. (Nasdaq: YI), gained 7% Friday, closing at $6.03 per ADS.

Shares in Beijing-based smart products provider Lianluo Smart Ltd. (Nasdaq LLIT) rose an additional 6% to $1.01 per ADS on Friday. It jumped 29% on Thursday. On Wednesday, Lianluo set the pricing of its $2.2 million offering at 85 cents apiece.

Other gainers on Friday included digital media content platform Bilibili Inc. (Nasdaq: BILI), which soared 3% to $28.69 per ADS. Bibibili's stock price has risen over 54% since 2020 as of Friday.

Shares of the livestreaming game platform Huya Inc. (NYSE: HUYA) gained 2% Friday.

A rival of Huya, DouYu International Holdings Ltd. (Nasdaq: DOYU) rose 4% to $8.76 per ADS at close.

Losers:

The auto sector was not so lucky on Friday.

Nio (NYSE: NIO) announced today that it will sell an additional $100 million worth of convertible notes to two unaffiliated Asian investment funds and saw its shares decline more than 6% to $3.77 apiece. Nio said Friday it is still working on "several" financing projects; the results are still uncertain.

The stock in another EV maker, Kandi Technologies Group Inc. (Nasdaq: KNDI), ended nearly 3% lower, at $4.16 today.

Shares in automotive marketplace TuanChe Ltd. (Nasdaq: TC) dropped 7% to $1.45 per ADS Friday.

Chinese auto parts supplier China Automotive Systems Inc. (Nasdaq: CAAS) also slipped 3% to $2.41 per share.

Separately, Beijing-based Puhui Wealth Investment Management Co. Ltd. (Nasdaq: PHCF), which offers third-party wealth management services in China, saw its stock drop nearly 13% Friday to $2.13 per ADS.

Indexes:

Overall, all broad-based indexes on mainland China and Hong Kong ended up positive on Friday.

The Shanghai Composite jumped 11 points, or 0.38%, to 2,917 on Friday and the Shenzhen Composite gained 52 points to 10,916, by 0.5%. The Hang Seng Index in Hong Kong added 86 points to 27,816, up 0.31% Friday.

U.S. benchmarks as of Friday trading saw the Dow Jones fall 0.09%, while the S&P 500 edged up 0.18% and the Nasdaq rose 0.2%.

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