Market Insight

Market Roundup

During yesterday's U.S. stock trading session, the Chinese concept stock Golden Dragon Index surged 6%, driving the Hang Seng Index to open 336 points higher at 18,543 points. However, the gain for the whole day narrowed to 269 points, to 18,476 points; the national index rose 110 points or 1.7 %, to 6,547 points; the Hang Seng Technology Index rose 106 points, or 2.7%, to 3,971 points. The total daily turnover of the market has reached HK$116.2 bn. Standard Chartered (2888) continued to rise after the results, rising another 2.8% today. As for technology stocks, Alibaba (9988)'s share price rose by 4.1%, leading the market upward Taking advantage of golden week holiday, Macau gaming stocks rose, with Galaxy Entertainment (27) and Sands China (1928) rising 3.6% and 4.9% respectively.

Source: KGI Asia Investment Strategy

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