Market Insight

Half Day Roundup

U.S. stocks rose overnight, led by technology stocks. However, the Hang Seng Index opened 109 points lower at 16,628 points and closed down 186 points at 16,551 points in half a day; the Hang Seng Technology Index fell 64 points or 1.8% to 3,530 points; the H-Share Index fell 61 points or 1% to 5,787 points; The market half day turnover was HK$49.7bn. The annual report of WuXi AppTec (2359) showed that the US business revenue accounted for 65%, which investors worries regarding to the us bill. The stock price fell 6.7% today to HK$39.9. Li Auto (2015) currently has only 4,000 orders for the new car it released in early March, far below its monthly sales target of 8,000 units. Its stock price fell 9.3% today to HK$126.1.

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.