Market Roundup

It was reported that US President-elect Trump hopes to visit China within 100 days. The market is looking forward to the easing of China-US relations while Hong Kong stock market rose today. The HSI opened 220 points higher and then extended its gains, rising 457 points or 2.3% to 20,041 at mid-day; the HSCEI rose 163 points or 2.3% to 7,272; and the HSTECH rose 141 points or 3.2% to 4,621 points. The total market turnover at mid-day was RMb97.23bn. Many major banks are optimistic about JD.com’s (9618) 4Q24 performance, and JD.com’s share price rose 7.4%. China announced the details of its 2025 car trade-in policy. Auto stocks generally rose, with BYD (1211) and Li Auto (2015) rising 4.7% and 3.6% respectively.

Source: KGI Investment Strategy

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