Market Insight

Half Day Roundup

Today, the PBOC extended MLF with the same interest rates. Hong Kong stock market fell in volatility today. The HSI fell 140 points in the morning and then rose 90 points. However, it still fell 25 points or 0.2% to 16,219 in mid-day; the HSCEI fell 34 points or 0.6% to 5,447; the HSTECH fell 60 points or 1.8%, quoted at 3,410 points. The total mid-day turnover of the market was HK$39.6bn. There is news that Baidu's and iFlytek’s LLM have been used for military purposes. Although Baidu (9888) declined any any cooperation or affiliation with the military, its stock price still fell 10.1%. China real estate stock Logan (3380) reached an agreement with the creditor group, and the stock rose 8.3% after resuming trading.

Source: KGI Asia Investment Strategy

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