Market Roundup

Market Roundup

Hong Kong stock market fluctuated today, with the HSI falling 115 points after opening 40 points higher. It later recovered its losses and closed at 16,595 today, up 6 points or 0.0%. The HSTECH reported at 3,474, down 13 points or 0.4%. The HSCEI fell 16 points, or 0.3%, to 5,712 points. The market turnover was HK$106.87bn. Tesla (TSLA.US) and XPEV (9868) announced price reductions for their EVs, with the latter's stock price falling 4.6%. Li Auto (2015) February delivery volume fell 35% MoM, and its stock price fell 10.7%. There is news today that the "Biotech-secure Act" is scheduled for the committee meetings on 6 Mar. However, the stock prices of WuXi AppTec (02359) and WuXi Biologics (2269) surged 12.5% and 11.7% today.

Source: KGI Asia Investment Strategy

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