Market Insight

Market Roundup

There is a report that a series of measures to strengthen the economics expectation of the Chinese people and the support for enterprises is going to launch soon. The HSI once rose by 324 points but then the gains narrowed. The HSI closed at 18,659 today, up 180 points or 1.0%. The HSTECH closed at 4,003, up 57 points or 1.5%. The HSCEI rose 60 points, or 1.0%, to 6,295. Market turnover was HK$83.91bn. The new energy vehicle sector is generally doing well. NIO (9866), XPEV (9868) and Li (2015) rose 11.8%, 8.9% and 4.4% respectively today. BYD (1211) also rose 2.8%. SenseTime (0020) was cut off by Alibaba (9988) by more than 550mn shares outside the market last Thursday, and SenseTime's share price fell 4.3% today.

Source: KGI Asia Investment Strategy

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