Market Insight

Market Roundup

The Federal Reserve raised interest rates by 0.25%, and the market expects that the rate hike is coming to an end. The Hang Seng Index opened 204 points higher at 22,276 points, and then fell 114 points and closed at 21,958 point. The H-Share Index fell 55 points, or 0.7%, to 7,506 points; the Hang Seng Technology Index was flat at 4,696 points. The market turnover was HK$ 140 bn. Baidu (9888) rose another 5%, while Tencent (700) fell 0.5%, Alibaba (9988) fell close to 1%, and Meituan (3690) fell close to 2%.

Source: KGI Asia Investment Strategy

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