Market Roundup

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

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.