Market Insight

Half Day Roundup

The U.S. small non-farm payroll data was lower than expected, and market expectations for interest rate cuts increased. The Hang Seng Index opened 152 points higher at 18,577 points, and rose 108 points or 0.6% in half a day to 18,533 points. The H-Share Index rose 33 points, or 0.5%, to 6,575 points; the Hang Seng Technology Index rose 48 points, or 1.2%, to 3,856 points. The total half-day turnover of the market was NT$64.8 billion. Chip-related stocks performed well, with SMIC (981) rising 6% and Hua Hong Semiconductor (1347) rising nearly 8%. NetEase (9999)'s share price rose nearly 4%, driven by the restart of its games. In addition, market expectations for interest rate cuts have increased, with SPDR Gold ETF (2840) rising 1.5% to HK$1,712.5.

Source: KGI Asia Investment Strategy

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