Market Roundup

Market Roundup

The U.S. House of Representatives passed the bill to raise debt ceiling. In addition, the Caixin manufacturing PMI beat expectations. The Hang Seng Index opened 44 points lower and then took the opportunity to rebound, rising 149 points or 0.8% in half a day to 18,383 points; The China Enterprises Index rose 57 points or 0.9% to 6,220 points; the Hang Seng Technology Index rose 71 points or 2% to 3,698 points. The market turnover was HK$ 75.7 bn. Technology stocks rebounded, with Meituan (3690) rose 5% and Tencent (700) rose 3.3%. The trend of Mengniu Dairy (2319) continued to weaken, and its share price fell 4.6% to HK$29.

Source: KGI Asia Investment Strategy

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