Market Insight

Half Day Roundup

The Hang Seng Index opened 68 points lower this morning, closing at 21,678 points. After the announcement of the fourth quarter GDP and the "Fixed Investment, Retail and Industrial Production" data in the early period, the decline was once narrowed, but then the decline widened to 219 points in half a day, closing at 21,527 point for the first half. The H-Share Index fell 56 points, or 0.8%, to 7,294 point. The Hang Seng Technology Index fell 29 points or 0.6% to 4,477 point. The market's half-day turnover was HK$66.7 bn. Major shareholder of WuXi Biologics (2269) cut it holdings, and its share price fell 5.4% to HK$69.9, the worst performance among blue chips stock. Kuaishou (1024) reached an agreement with CCTV to rebroadcast the Chinese New year program on their platform on New Year's Eve. The share price rose 0.8% to HK$72.1.

Source: KGI Asia Investment Strategy

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