Market Insight

Market Roundup

The Hang Seng Index opened 13 points lower and closed at 20,355 point. The trend was volatile for the first half, and it rose 40 points or 0.2% to 20,407point; The China Enterprises Index rose 15 points or 0.2% to 6,904 point; the Hang Seng Technology Index rose 12 points or 0.3% to 4,114 point. The market's half-day turnover was HK$ 50.5 bn. After Tesla announced last night that its first-quarter gross profit dropped by 10%, domestic EV were under pressure today. Xpeng (9868) was the worst performer, down 7%. Nio (9866) and Li Auto (2015) fell 4.9% and 2.2%, respectively. Hongjiu Fruit (6689) continued to fall by nearly 15% to HK$16.3 today after fell below the allotment price yesterday.

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.