Market Roundup

Half Day Roundup

The U.S. stock earnings season continues, with some large tech stocks underperforming expectations, dragging down the Nasdaq. The Hang Seng Index followed the external downward trend, opening 280 points lower in the morning at 17,025 points, and by midday, it had fallen 354 points or 2.1% to 16,950 points. The HSCEI Index dropped 116 points or 1.9% to 5,969 points, and the Hang Seng Tech Index fell 80 points or 2.3% to 3,396 points. The total market turnover for the half-day was HKD 48.031 billion. Tencent (700) once recovered its losses but unable to maintain, fell 1.6%. Commodity stocks were under pressure, with oil prices dropping more than 2%. PetroChina (857) and CNOOC (883) fell 2.5% and 3.1%, respectively.

Source: KGI Asia Investment Strategy

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