Market Roundup

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

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