Market Roundup

President Xi Jinping stressed at a private enterprise symposium that the private economy has a bright future, and Hong Kong stock market rose today. The HSI opened 48 points higher and then extended its gains, rising 525 points before falling back. It rose 360 points or 1.6% today to close at 22,976; the HSCEI rose 151 points or 1.8% to close at 8,475; and the HSTECH rose 139 points or 2.5% to close at 5,639. The total market turnover recorded HK$338.63bn. Chinese technology stocks generally rose today, with Tencent (0700) and Alibaba (9988) rising 2.0% and 3.4% respectively. Xiaomi (1810) released the Mijia central air conditioner at the end of the month and its share price rose by 7.2%.

Source: KGI Investment Strategy

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