Market Roundup

Market Roundup

Official media cited expert comments, pointing to the possibility of lowering the LPR in February and the possibility of lowering the policy interest rate in March. In addition, Central Huijin announced that it has expanded the scope of holdings of exchange-traded open-end index funds. The news drove the Hang Seng Index to open 31 points higher at 15,541 points, the gain expanded to 627 points throughout the day, to 16,137 points. The H-Share Index rose 256 points, or 4.9%, to 5,474 points; the Hang Seng Technology Index rose 205 points, or 6.7%, to 3,244 points. The total daily turnover of the market was HK$128 billion. As for technology stocks, Alibaba (9988), Meituan (3690) and Tencent (700) rose 7.6%, 6.4% and 4% respectively. Giordano (709) shareholder requisite to dismiss the chairman and CEO, the stock price fell 3.9% to HK$1.96.

Source: KGI Asia Investment Strategy

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