Market Insight

Market Roundup

Due to weather condition, Hong Kong stocks opened at 2 o'clock today. The Hang Seng Index closed up 31 points or 0.2% at 17,517 points; the Hang Seng Technology Index rose 9 points or 0.2% to 3,825 points. The H-Share Index rose 24 points or 0.4% at 5,998 points. Today's market turnover was HK$46.8 bn. The recent war between Israel and Palestine has once again led to a rise in oil prices. Today, oil-related assets such as F Samsung Crude Oil Futures ETF (3175) and CNOOC (883) rose 3.6% and 2.3%. As an “safe haven” asset, gold was also driven by war factors. The SPDR Gold ETF (2840), which tracks the performance of gold prices, rose 1.7%, while Zijin Mining (2899) rose 3.7%.

Source: KGI Asia Investment Strategy

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