Market Roundup

Market Roundup

Hong Kong stocks recorded five consecutive losses today. The HSI opened 46 points higher and the decline intensified. The HSI fell 310 points, or 1.9%, to close at 16,224 today; the HSCEI fell 126 points, or 2.3%, to close at 5,480; the HSTECH fell 107 points, or 3%, to close at 3,484. The total daily turnover of the market was HK$84.44bn. Chinese technology stocks generally fell today, with losses ranging from 1.8% to 5.2%. The market continues to pay attention to the "involution" problem in the Chinese auto market, and auto stocks continue to weaken. The share price of new energy vehicles XPEV (9868) fell 7.8% today, while BYD (1211) fell 1.6%.

Source: KGI Asia Investment Strategy

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