Market Roundup

Market Roundup

Hong Kong stock market fell first and then rose today, rising for four consecutive trading days. The HSI opened 57 points lower and then rebounded. It once rose 237 points to 17,438. However, profit selling pressure emerged later. The HSI rose 83 points or 0.5% today to close at 17,284; the HSCEI rose 20 points or 0.3% to close at 6,120; the HSTECH fell 19 points or 0.5% to close at 3,554. The total daily turnover of the market was HK$119.91bn. New Oriental (9901)'s quarterly results were worse than expected, and its stock price fell 16.0% today. Chinese property stocks generally performed well, with China Overseas (0688) and CRL (1109) rising 6.3% and 3.0% respectively. SenseTime (0020) earlier launched its Large Language Model SenseNova 5.0, and its share price rose 3.8% after resuming trading.

Source: KGI Asia Investment Strategy

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