Market Insight

Market Roundup

The HSI opened 175 points higher today and then expanded its gains. It once rose more than 260 points and then narrowed its rise. It rose 109 points or 0.6% in mid-day to 18,593 points; the HSCEI rose 15 points or 0.3% to 6,402; the HSTECH fell 8 points or 0.2% to 4,226. The mid-day total turnover of the market was HK$60.83bn. Xiaomi (1810)'s adjusted interim net profit rose 70% which beat expectations, and its share price rose 1.8%. China Ping An (2318) reported a 1% drop in 1H23 net profit, but increased interim dividend. The share price rose 0.6%. China Resources Mixc Lifestyle Serv (1209) 1H23 net profit rose 37% and added interim dividend, half-day flat at HK$34.8.

Source: KGI Asia Investment Strategy

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