Market Roundup

Market Roundup

The Hang Seng Index retreated today after rising for days. The Hang Seng Index opened 41 points higher this session, at 22,484 points, and fell 330 points, or 1.5%, to 22,113 points for the day; the China National Index fell 127 points, or 1.6%, to 7,914 points; the Hang Seng Technology Index fell 178 points, or 3.4%, to 4,978 points. The market's full-day turnover was HK$310.3 billion. Among major technology stocks, Meituan (3690) bucked the trend and rose 3.9%, while Alibaba (9988) and Tencent (700) fell 4.4% and 0.8% respectively. Mainland real estate, which has been supported by policies, has experienced price surges and has retreated today. Longfor (960) fell 9.5% and China Resources Land (1109) fell 6%.

Source: KGI Investment Strategy

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