Market Insight

Market Roundup

Today, the PBOC extended MLF with the same interest rates. Hong Kong stock market fell in volatility today. The HSI fell 140 points in the morning and then rose 90 points. However, the index closed at 16,216 today, down 28 points or 0.2%; the HSTECH was at 3,404, down 66 points or 1.9%; the HSCEI fell 35 points or 0.6 %, closed at 5,446. The market turnover was HK$71.1bn. There is news that Baidu's and iFlytek’s LLM have been used for military purposes. Although Baidu (9888) declined any any cooperation or affiliation with the military, its stock price still fell 11.5%. China real estate stock Logan (3380) reached an agreement with the creditor group, and the stock rose 5.0% after resuming trading.

Source: KGI Asia Investment Strategy

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