Market Insight

Market Roundup

The market is waiting to see the U.S. CPI in Oct. Hong Kong stock market rose first and then fell today. The HSI opened 59 points higher and rose 136 points to 17,339 in the morning but then turned lower. It fell 24 points or 0.1% in mid-day to 17,178; the HSCEI fell 11 points or 0.2% to 5,889; the HSTECH rose 24 points or 0.6% to 3,916. The total mid-day turnover of the market was HK$34.70bn. Chinese platform stocks all recorded increases in GMV during “double 11” shopping festival. Platform stocks such as Alibaba (9988) fell 0.1% in mid-day, while JD.com (9618) and Kuaishou (1024) rose 0.1% and 2.7% respectively.  Xiaomi (1810)'s Mi 14 series of mobile phones was reported to have sold nearly 1.45mn units on the 10th day of its listing, and its stock price rose 1.1% in mid-day.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.