Market Roundup

The Hang Seng Index opened 142 points higher and then extended its gains, rising as much as 444 points to reach 20,144 points. It closed up 366 points or 1.86% at 20,066 points. The Hang Seng China Enterprises Index rose 148 points or 2.06% to 7,312 points, while the Hang Seng Tech Index gained 142 points or 3.1% to 4,658 points. The total market turnover for the day was HK$159.8 billion. Bank of China (3988) plans to provide comprehensive financial support of no less than 1 trillion (RMB) to various entities across the entire artificial intelligence (AI) industry chain over the next five years. SMIC (981) rebounded by 5.76%.

Source: KGI Investment Strategy

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