Market Insight

Half Day Roundup

The Hang Seng Index opened 68 points lower in the early session, opening at 18,335 points, and closed at 18,441 points in the first half of the day, up 38 points or 0.2%. The Hang Seng Technology Index reported at 3,786 points, up 2 points or 0.1%. The HSCEI Index rose 14 points, or 0.2%, to 6,546 points. The total half-day turnover of the market was HK$65.2 billion. Mainland property stocks performed well, with China Resources Land (1109) and Longfor (960) rising 4% and 3.3% respectively. CTIHK (6055) announced positive profit alert, and its stock price rose 13.2%. Meituan (3690) rose 4.1%; Tencent (700) rose 0.6%, while Alibaba (9988) fell 0.5%.

Source: KGI Asia Investment Strategy

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