Market Insight

Market Roundup

After opening slightly higher by 4 points, the HSI rose 402 points at day high level. However, the uptrend lacked momentum afterwards, and there was a sharp retreat. HSI closed down 69 points, or 0.3%, to 20,534. The HSI fluctuated 647 points today. The HSCEI fell 25 points or 0.36% to close at 6,912. The HSTECH fell 55 points or 1.32% to 4,122. The market turnover of the whole day was HK$127.7bn. The oil stocks rose against market well today. CNOOC (0883), Sinopec (0386) and PetroChina (0857) rose 3.3%, 4.2% and 4.4% respectively. Trip.com (9961) announced its results. In the 4Q22, the revenue was RMb5.03bn, a YoY% increase of 7%. The stock price rose 1.4% today.

Source: KGI Asia Investment Strategy

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