Market Insight

Market Roundup

The U.S. January CPI was higher than the consensus. The US stock market turned from a decline to an upward trend, while the Hong Kong stock market continued to be weak today. HSI once fell by 386 points and fell as low as 20,726. HSI closed at 20,812 today, down 301 points or 1.4%. The HSTECH closed at 4,288, down 41 points or 1.0%. HSCEI fell 92 points, or 1.3%, to 7,018. Market turnover was HK$112.31bn. Chinese technology stocks generally fell, Alibaba (9988) and Tencent (0700) fell 1.6% and 0.4% respectively. The concept of artificial intelligence has been heated again, Baidu (9888) share price rose 3.8%.

Source: KGI Asia Investment Strategy

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