Market Insight

Market Roundup

Hong Kong stocks rebounded repeatedly today. The Hang Seng Index opened 106 points higher in morning trading. It initially rose 146 points to 17,537 points and then fell back. It once fell 1 point to a low of 17,389 points. It rose 250 points or 1.4% to close at 17,641 points; the HSCEI Index rose 82 points or 1.3% to 6,224 points; the Hang Seng Technology Index rose 74 points or 2.1% to 3,508 points. The total daily turnover of the market was HK$97.4 billion. Xiaomi (1810) announced its results and its automobile gross profit margin was surprising. Its stock price rose 9% to HK$19.1. AIA (1299)'s mid-term new business value rose 21%, in line with expectations, and its stock price rose 5.9%.

Source: KGI Investment Strategy

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