Market Insight

Market Roundup

U.S. stocks softened in late trading hours. The Hang Seng Index opened 159 points lower, at 16,455 points. The Hang Seng Index's half-day decline narrowed to 40 points, or 0.2%, to 16,573 points. The H-Share Index fell 13 points, or 0.2%, to 5,599 points. The Hang Seng Technology Index fell 28 points, or 0.7 %, reported at 3,698 points. The total half-day turnover of the market was HK$36.2 billion. Expectations of interest rate cuts continued to support HK property stocks, with Wharf Properties (1997) and New World Holdings (17) rising 2.7% and 2.6% respectively. EV Stock Nio (9866) retreated 8%. Li-auto (2015) and Xpeng (9868) fell 3.8% and 2.8% respectively

Source: KGI Asia Investment Strategy

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