Market Insight

Market Roundup

Lower than expected China CPI in May was announced today, and Hong Kong stock market continued to fall today. The HSI opened 143 points lower and then expanded its losses, falling 238 points or 1.5% today to close at 17,937; the HSCEI fell 92 points or 1.4% to close at 6,359; the HSTECH fell 64 points or 1.7% to close at 3,691. The total daily turnover of the market was HK$115.12bn. The European Union may raise tariffs on Chinese-produced cars next month. Automobile stocks generally fell, with BYD (1211) and Geely (0175) falling 3.7% and 4.8% respectively. Apple (AAPL US) announced its generative AI, and the market is looking forward to the sales of its next iPhone. The stock price of AAC (2018) rose 5.9% today.

Source: KGI Asia Investment Strategy

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