Market Insight

Market Roundup

The Hang Seng Index opened 43 points lower at 17,481 points. The index once rose by nearly 94 points during the day, but he index closed at 17,523 points, down slightly by 1 point; the HSCEI Index fell by 9 points, or 0.1%, to close at 6,276 points; the Hang Seng Technology Index rose 34 points or 1% to 3,601 points. The total daily turnover of the market was HK$94.3 billion. There are reports that Apple has raised its IPHONE 16 stocking target to about 90 million units, and related concept stocks such as Sunny Optical (2382) rose 7.8%. The US chip stocks rallied has led to the rise of Chinese chips performance today. Semiconductor Manufacturing International Corporation (981) and Hua Hong Semiconductor (1347) rose 3.4% and 7.8% respectively.

Source: KGI Asia Investment Strategy

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