Market Insight

Market Roundup

The United States released the latest inflation data. The Headline CPI in September was slightly higher than market expectations. The Hang Seng Index opened 291 points lower at 17,947 points. It closed at 17,813 points throughout the day, down 424 points or 2.3%. The Hang Seng Technology Index reported at 3,879 points, down 139 points or 3.4%. The H-Share Index fell 151 points, or 2.4% to 6,116 points. The market turnover was HK$84.2 bn. Major banks are bearish on JD.com (9618), whose stock price fell 11% to HK$104.2, making it the worst-performing blue chip stock. Other Major technology stocks also closed lower, with Alibaba (9988) and Meituan (3690) both falling by more than 3%.

Source: KGI Asia Investment Strategy

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