Market Insight

Market Roundup

U.S. stocks closed higher on Friday. The HSI performed weakly on the first trading day in April. The HSI once fell 120 points to 20,279 in mid-day. It gradually rebounded during afternoon session. The HSI closed at 20,409 for today, up 9 points or 0.0%. The HSTECH closed at 4,302, down 1 point or 0.0%. The HSCEI fell 28 points, or 0.4%, to 6,940 points. The market's full-day turnover was HK$120.42bn. OPEC+ announced oil production cuts. In May, the combined supply of various countries decreased by more than 1.16 mn barrels. The rise in oil prices caused CNOOC (0883) and PetroChina (857) price to rise 2.4% and 1.5% respectively today.

Source: KGI Asia Investment Strategy

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