Market Insight

Half Day Roundup

Federal Reserve Chairman Powell's testimony at the Senate hearing remained neutral on rate cuts roadmap. Hong Kong stock market fluctuated today. After opening 90 points higher, the HSI rose 242 points, and then the increase narrowed significantly. The index rose 47 points, or 0.3%, to 17,570 at mid-day; the HSCEI rose 16 points, or 0.3%, to 6,291; the HSTECH rose 26 points, or 0.7%, to 3,627. The total mid-day turnover of the market was HK$57.77bn. The central government planned to support self-driving cars for Ridesharing. Baidu (9888) rose 10.7% at mid-day. Ganfeng Lithium (1772) issued a profit warning, but its stock price fell first and then recovered, rising 4.5% today.

Source: KGI Asia Investment Strategy

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