Market Insight

Market Roundup

The United States reached a debt ceiling agreement, and US stocks closed higher. The Hang Seng Index opened 360 points higher at 18,567 points, and rose 666 points or 3.7% in half a day to 18,883 points; the China Enterprises Index rose 260 points or 4.2% to 6,410 points; The Hang Seng Technology Index rose 176 points or 4.8% to 3,807 points. The market's half-day turnover was HK$62.3 bn. Technology stocks rebounded, with Meituan (3690) up 5.6% and Alibaba (9988) up 6.2%. Longfor (960) soared 12% to HK$16.24, and Country Garden Services (6098) rose 10.8% to HK$9.3.

Source: KGI Asia Investment Strategy

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