Market Insight

Market Roundup

The market resumed on the first day after the long Easter holiday. The Hang Seng Index opened 235 points higher at 20,566 points. The index once rose to 420 points and then softened. It rose 154 points or 0.7% to 20,485 points at market close; the H-Share Index rose 56 points or 0.8% to 6,950 point; the Hang Seng Technology Index rose 10 points or 0.2% to 4,248 point. The market turnover was HK$126.9 bn. Zhang Yong pointed out at the Alibaba Cloud Summit that its "Tongyi Qianwen" AI model will be connected to all of Alibaba's products. Alibaba (9988) shares rose 1.6% to HK$99.3. In addition, some non-state-owned property developer reported good news on their March sales. Longfor (960) shares rose 7.5% to HK$23.

Source: KGI Asia Investment Strategy

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