Market Roundup

Half Day Roundup

U.S. stocks continued to rebound on Thursday. The Hang Seng Index opened 205 points higher and expanded its gains, rising 299 points or 1.8% to 17,191 points at midday. The China Enterprises Index rose 115 points or 1.9% to 6,056 points, while the Hang Seng Tech Index rose 98 points or 2.9% to 3,465 points. The total market turnover for the half-day was HKD 53.6 billion. SMIC (981) announced a higher than expected gross margin guidance, stock price rose 6.3%, making it the best-performing blue-chip stock. In contrast, Hua Hong Semiconductor (1347) saw a sharp decline in net profit, with its stock price plummeted 7.1%. Oil stocks PetroChina (857) and CNOOC (883) rose 2.6% and 2.3% respectively, following three consecutive days of rising oil prices.

Source: KGI Investment Strategy

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