Market Insight

Half Day Roundup

On the first trading day of 2023, it opened 211 points lower at 19,570 point. The market managed to turn to gain of 258 points at 20,040 point. The China Enterprises Index rose 83 points or 1.25% to 6,788 point, and the Hang Seng Technology Index rose 62 points or 1.5% to 4,190 point. Half-day market turnover was HK$66.6 bn. With mainland reopening schedule approaching, Macau gaming stocks ushered in outstanding performance on the first day. Wynn (1128) rose 8.2% to HK$9.4, and MGM (2282) rose 10.9% to HK$9.5. After the release of new energy vehicle sales data, Li Auto (2015) and Xpeng Motors (9868) rose 9.1% and 6.6% respectively, leading the performance of the Hang Seng Tech Index.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.