Market Roundup

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

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