Market Insight

Market Roundup

On the first trading day in 2023, Market opened 211 points lower at 19,570 points. The market managed to turn to gain of 363 points, and closed at 20,145. The China Enterprises Index rose 129 points or 1.9% to 6,833 point, and the Hang Seng Technology Index rose 104 points or 2.5% to 4,233 point. The market turnover was HK$120.6 bn. With mainland reopening schedule approaching, Macau gaming stocks ushered in outstanding performance on the first day. Wynn (1128) rose 6.2% to HK$9.24, and MGM (2282) rose 13.2% to HK$9.74. After the release of new energy vehicle sales data, Li Auto (2015) and Xpeng Motors (9868) rose 10.5% and 7.8% respectively, leading the performance of the Hang Seng Tech Index.

Source: KGI Asia Investment Strategy

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