Market Insight

Half Day Roundup

After the U.S. regional banking crisis in is expected to be resolved, global stock markets got rebound today. After the HSI opened 275 points higher, it once rose 497 points in the morning and reached a day high of 19,745. Afterwards, the increase narrowed, rising 242 points or 1.3% in mid-day to 19,490; the HSCEI rose 103 points or 1.6% to 6,542; the HSTECH rose 71 points or 1.9% to 3,861. The market's half-day turnover totaled HK$60.26bn. Chinese technology stocks generally rebounded, with heavyweights Tencent (0700) and Alibaba (9988) rising 1.2% and 2.3% respectively. Baidu (9888) released its AI with “ChatCPT” concept tomorrow, and its stock price rose 4.9% today.

Source: KGI Asia Investment Strategy

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