Market Insight

Market Roundup

After the U.S. CPI in June was lower than the consensus on Wednesday, the US dollar index fell below 100 today, and the Hong Kong stock market fluctuated in the morning. The HSI opened 184 points higher and then narrowed its gains. HSI rose 49 points or 0.25% to 19,399 in mid-day; The HSCEI rose 7 points or 0.1% to 6,551; the HSTECH fell 16 points or 0.4% to 4,220. The market's mid-day turnover totaled HK$51.83bn. Some Chinese tech stocks retreated today, JD.com (9618) and Alibaba (9988) fell 0.2% and 0.8% respectively. Vehicle sector generally fell today, BYD (1211) and Geely (0175) shares fell 1.8% and 1.2%. Lukfook (0590) retail sales in 1Q23 increased by 62% YoY, the stock price rose nearly 3.9% in mid-day.

Source: KGI Asia Investment Strategy

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