Market Insight

Half Day Roundup

Hong Kong stock market resumed trading following the Labor Day holiday and the suspension of Hong Kong Stock Connect southbound trading. It continued its upward trend in the morning. The HSI opened 2 points lower and then rose. It rose above 18,200 and rose 392 points or 2.2% at mid-day to 18,155. The HSCEI rose 147 points or 2.3% to 6,420. The HSTECH rose 150 points or 4.1%, reported at 3,850. The total mid-day turnover of the market was HK$64.11bn. Chinese technology stocks generally performed well, with Meituan (3690), Tencent (0700) and Alibaba (9988) rising 8.4%, 3.6% and 2.4% respectively. NIO (9866) delivered 135% growth of vehicles in April, share price rose 21.4%.

Source: KGI Asia Investment Strategy

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