Market Roundup

Market Roundup

U.S. stocks continued to rebound on Thursday. The Hang Seng Index opened 205 points higher and then expanded its gains. It rose 198 points or 1.2% to 17,090 points throughout the day. The HSCEI Index rose 76 points or 1.3% to 6,017 points. The Hang Seng Technology Index rose 70 points or 2.1%, reported 3,437 points. The total daily turnover of the market was HK$88 billion. Semiconductor Manufacturing International Corporation (981)'s gross profit margin guidance exceeded expectations, and its stock price rose 4.9%, making it the best-performing blue chip stock. The net profit of Hua Hong Semiconductor (1347) fell sharply, and its stock price plummeted 6.2%. Oil futures rose for three consecutive days, with oil stocks PetroChina (857) and CNOOC (883) rose 2.1% and 1.3%.

Source: KGI Investment Strategy

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