Market Insight

Market Roundup

Asia-Pacific stock markets rose collectively today, and Hong Kong market followed and rebounded today. The HSI opened 142 points higher and then expanded to 236 points. The HSI rose 167 points, or 1.0%, to 16,672 in mid-day; the HSCEI rose 45 points, or 0.8%, to 5,638; the HSTECH rose 41 points, or 1.1%, to 3,749. The total mid-day turnover of the market was HK$44.26bn. Meituan stock price rose 0.9% in mid-day after internal media quoted Bytedance’s internal source that it had no plans to acquire Ele.me. The price of gold rose to the level of US$2,050, and the share prices of gold stocks Shandong Gold (1787) and Zijin (2899) rose by 2.3% and 3.0% in mid-day. Macau’s chief executive expects full-year gambling revenue to exceed 180bn patacas, exceeding the target by 20%. Macau gambling stocks generally rose 4.8% to 6.1%

Source: KGI Asia Investment Strategy

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