Market Insight

Market Roundup

The Hang Seng Index opened 68 points lower in the early session, opening at 18,335 points, and closed at 18,444 points throughout the day, up 41 points or 0.2%. The Hang Seng Technology Index was at 3,796 points, up 12 points or 0.3%. The HSCEI Index rose 22 points, or 0.3%, to 6,554 points. The total market turnover for the whole day was HK$116.2 billion. Mainland property stocks performed well, with China Resources Land (1109) and Longfor (960) rising 3.9% and 3.8% respectively. CTIHK (6055) announced positive profit alert, and its stock price rose 17.2%. Meituan (3690) rose 4.1%; Tencent (700) rose 0.6%, while Alibaba (9988) fell 0.3%.

Source: KGI Asia Investment Strategy

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