Market Insight

Market Roundup

The United States raised interest rates by 0.25% as expected. The Hang Seng Index opened 137 points higher, at 19,502 point, and extended its increase to 274 points, or 1.4%, closed at 19,639 point; The China Enterprises Index rose 121 points or 1.9% to 6,671 point; the Hang Seng Technology Index rose 122 points or 2.9% to 4,341 point. The market turnover was HK$ 113.6 bn. Volkswagen invested into Xpeng (9868), its share price soared 33.9% today to HK$81. Other EV stocks such as Nio(9866) and Li-Auto (2015) EV stocks were also driven by the news, and the stock prices rose 13.3% and 2.7% respectively.

Source: KGI Asia Investment Strategy

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