Market Insight

Market Roundup

The Hang Seng Index fell 208 points or 1.3% throughout the day to close at 16,230 points. The Hang Seng Technology Index fell 53 points, or 1.6%, to 3,359 points. The H-Share Index fell 59 points, or 1.0%, to 5,614 points. The market turnover was HK$ 98 billion. The U.S. Biosafety Act was passed, and WuXi suffered a significant setback today. WuXi Biologics (2269) and WuXi AppTec (2359) fell 21.5% and 20.6% respectively. JD.com (9618)'s performance exceeded expectations and it initiated buybacks. Its stock price rose 6% to HK$94.5.

Source: KGI Asia Investment Strategy

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