Market Insight

Market Roundup

US stock market were dragged down by rising debt interest rates yesterday, while Hong Kong market followed today. The HSI opened 4 points lower and then fell further, falling 242 points in the afternoon. It fell 206 points or 1.2% today to close at 16,725; the HSCEI fell 85 points or 1.4% to close at 5,874; the HSTECH fell 82 points or 2.3% to close at 3,460. The total market turnover was HK$99.79bn. Tesla's (TSLA.US) first-quarter delivery volume was lower than consensus. New energy vehicle stocks generally fell today, with BYD (1211) and Li Auto (2015) falling 2.2% and 5.0% respectively. Tencent (0700) continued to be reduced by South Africa's major shareholder Naspers. The former's share price fluctuated today, down 0.3% when closed.

Source: KGI Asia Investment Strategy

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