Market Insight

Half Day Roundup

The Hang Seng Index opened 94 points higher at 16,046 points. The index once rose 306 points, but the half-day gain narrowed to 150 points, or 0.9%, to 16,102 points; the H-Share Index rose 56 points, or 1%, to 5,416 points; Hang Seng Technology The index rose 19 points, or 0.6%, to 3,206 points. The total half-day turnover of the market was HK$54.5 billion. WuXi is troubled by potential sanctions risks. WuXi AppTec (2359) and WuXi Biologics (2369) both fell more than 5%. Similarly, Lenovo (992) did not stop its decline and fell another 5.2% today to HK$8.76. Evergrande (3333) was trading at 0.163 yuan before the trading suspension, down 20.9%.

Source: KGI Asia Investment Strategy

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