Market Insight

Half Day Roundup

Hong Kong stock market performed well today, with the HSI opening 32 points higher and then expanding its gains, rising 79 points or 0.5% at mid-day to 16,578; the HSCEI rose 40 points or 0.7% to 5,798; the HSTECH rose 9 points or 0.3% to close at 3,465. The total mid-day turnover of the market was HK$61.98bn. The market expects Meituan (3690) to reduce “Bi-mall” losses this year, and its stock price rose 8.7% at mid-day. It was reported that Apple (AAPL.US) discussed to use Baidu's (9888) AI technology in Chinese devices, and Baidu's stock price rose 6.4%. Xiaomi SU7 is expected to announce the price on Thursday, and Xiaomi (1810) stock price rose 1.5%.

Source: KGI Asia Investment Strategy

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