Market Insight

Market Roundup

Mainland China's one-year and five-year LPR in September remained unchanged and the market waited to see the FOMC meeting. Hong Kong stocks market continued to be weak today. The HSI opened 57 points lower and declined further, closed at 17,885 today, down 111 points or 0.6%. The HSTECH reported at 3,921, down 62 points or 1.6%. The HSCEI fell 53 points, or 0.9%, to 6,181. The market turnover was HK$71.3bn. NIO (9866) issued US$1bn in convertible senior bonds, and its stock price fell 11.9% today. Xpeng Motors (9868)'s 2024 SUV "G9" is priced lower than the old model, and its stock price fell 5.6%. Chinese technology stocks generally fell, with the share prices of heavyweights Tencent (0700) and Alibaba (9988) falling by 1.0% and 0.4% respectively.

Source: KGI Asia Investment Strategy

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