Market Insight

Half Day Roundup

The Hang Seng Index opened 162 points lower at 19,474 points, and its half-day decline extended to 402 points, to 19,234 points; the Hang Seng Technology Index closed at 4,003 points, down 131 points, or 3.2 %. The HSCEI Index fell 135 points, or 1.9%, to 6,829 points. The half-day turnover of the market was HK$80.5 billion. EV stocks were under significant pressure today. Li Auto (2015)'s performance guidance was lower than market expectations, and its stock price plummeted by more than 19%. Xpeng Motors (9868) fell by more than 8%, and NIO (9866) fell by more than 5%. Major technology stocks also under pressure, with Tencent (700) falling 3% to HK$383.

Source: KGI Asia Investment Strategy

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