Market Insight

Market Roundup

The weakness of the Hang Seng Index continued. It opened 40 points lower at 16,606 points. The decline for the whole day expanded to 318 points or 1.9% to 16,328 points. The H-Share Index fell 94 points or 1.6% to 5,609 points. The Hang Seng Technology Index fell 77 points. points or 2%, quoted at 3,682 points. The full-day market turnover was HK$118 billion. WuXi Biologics (2269) resumed trading today, and even though major banks give positive outlook to the company, its stock price still fell 8.4% to HK$30.35. The top management of Miniso (9896) reduced their holdings, and the stock price plummeted 14% to HK$39.8. Lenovo (992) was also affected by the news that the company's senior management had reduced its holdings, and its share price fell 10.2% to HK$8.87.

Source: KGI Asia Investment Strategy

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