Market Roundup

President Xi Jinping stressed at a private enterprise symposium that the private economy has a bright future, and Hong Kong stock market rose today. The HSI opened 48 points higher and then extended its gains, rising 464 points or 2.1% at mid-day to 23,080 points; the HSCEI rose 190 points or 2.3% to 8,513; and the HSTECH rose 167 points or 3% to 5,666. The total market turnover for mid-day was HK$175.92bn. Chinese technology stocks generally rose today, with Tencent (0700) and Alibaba (9988) rising 3.4% and 4.3% respectively. Xiaomi (1810) will release the Mijia central air conditioner at the end of the month and its share price rose 5.9% at mid-day.

Source: KGI Investment Strategy

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