Market Roundup

US stock market performed well yesterday, while Hong Kong stock market performed weakly today. The HSI opened 199 points lower and then narrowed its losses, closing at 22,944, down 32 points or 0.1%; the HSCEI fell 12 points or 0.15% to 8,463; the HSTECH rose 33 points or 0.6% to 5,672. The total market turnover  was HK$262.6bn. Robot concept stocks continued to be hyped, with UBTECH Robotics (9880) rising 13.5%. Baidu (9888) announced its results yesterday but the management's guidance disappointed the market and its share price fell 2.1%. Mengniu (2319) expects a sharp drop in full-year net profit, but basic earnings exceeded expectations and its share price rose 10.4%.

Source: KGI Investment Strategy

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