Market Roundup

Market Roundup

Hong Kong stock market opened lower but rebounded quickly today, with the HSI rebounding 110 points in mid-day after opening 64 points lower. The HSI closed at 20,782, up 343 points or 1.7%. The HSTECH closed at 4,254, up 89 points or 2.2%. The HSCEI rose 141 points, or 2.1%, to 7,056. Market turnover was HK$136.58 bn. The opening of the Shanghai Auto Show is coming soon, and auto sector performed well. New energy auto stocks XPEV (9868) and NIO (9866) rose 12.5% and 6.4% respectively. Mainland airline stocks performed well, with Air China (0753) and China Southern Airlines (1055) rising 4.8% and 3.9% respectively.

Source: KGI Asia Investment Strategy

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