Market Roundup
The Hang Seng Index followed the US stock market and opened 135 points higher at 21,657 points. However, by midday, it had turned down by 126 points or 0.6%, to 21,395 points. The China Enterprises Index fell by 58 points or 0.7%, to 7,888 points. The Hang Seng Tech Index dropped by 82 points or 1.6%, to 5,204 points. The total market turnover for the half-day was HKD 122.742 billion. BYD (1211) announced its new Auto-driving system last night, and its stock price once rose by 4.5%, but the half-day gain narrowed to 0.7%, closing at HKD 332.4. Other Auto-driving system-related stocks, such as Horizon Robotics (9660), fell significantly, with a half-day drop of 7.8%.
Source: KGI Investment Strategy
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