Market Roundup

The United States restricted Nvidia's (NVDA.US) H20 chip exports to China, and Hong Kong stock market came under pressure in the morning. The HSI opened 149 points lower and then widened its losses, falling 543 points, or 2.5%, to 20,922 at mid-day. The HSCEI fell 247 points, or 3.1%, to 7,735; and the HSTECH fell 225 points, or 4.5%, to 4,755. The total market turnover was HK$118.12 bn. Chinese technology stocks generally fell, with Tencent (0700), Alibaba (9988), Xiaomi (01810) and others falling between 3.2% and 6.4%. Meituan (3690) plans to invest RMB 100bn in subsidies in the next three years; its share price fell 7.4%.

Source: KGI Investment Products and Solutions Department

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