Market Insight

Market Roundup

Last night, the U.S. stock index closed higher. The Hang Seng Index followed the ADR performance and opened 96 points higher at 19,936 point. The index once rose nearly 330 points and then softened. It rose 173 points or 0.9% in half a day to 20,013 points. The China Enterprises Index rose 72 points or 1.1% to 6,747 points; the Hang Seng Technology Index rose 55 points or 1.4% to 3,917 points. The half-day market turnover was HK$48.7 bn. BYD (1211) earned 4.1 times more in the first quarter, and its stock price rose by 1.2%. PICC Property & Casualty Company (2328) net profit rose 22% in the first quarter, and its share price rose 2% within half a day.

Source: KGI Asia Investment Strategy

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