Market Roundup

A-shares suddenly rose before the closing, and Hong Kong stock market performed well driven by artificial intelligence and autonomous driving. The HSI opened 231 points higher this morning and expanded its gains. The index closed at close to the intraday high of 21,857, up 563 points or 2.6%; the HSCEI rose 215 points or 2.7% to close at 8,058; and the HSTECH rose 138 points or 2.7% to close at 5,281. The total market turnover for the day was HK$287.2bn yuan. There are rumors that Apple is working with Alibaba (9988) to develop artificial intelligence functions for Chinese iPhone users. Alibaba's share price rose 8.5%. BYD-related stocks continued to be hotly discussed in the market for autonomous driving, with BYD (1211) and BYD Electronics (0285) rising 7.4% and 10.0% respectively.

Source: KGI Investment Strategy

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