Market Insight

Market Roundup

US stocks performed well last night. The Hang Seng Index opened 274 points higher at 20,703 point, but narrowed its gains to 138 points throughout the day, closing at 20,567 point. The China Enterprises Index rose 82 points or 1.2% to 6,940 point; the Hang Seng Technology Index rose 85 points or 2% to 4,211 point. The market turnover was HK$105.8 bn. CRRC (1766) rose 6.6%. The three major Chinese telecom stocks all reach new high. China Unicom (762) was the best performer, up 3.1% to HK$6.27. Among technology stocks, Bilibili (9626) announced its results last night and its stock price rose by more than 10% today, making it the best performer in the Hang Seng Technology Index.

Source: KGI Asia Investment Strategy

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