Market Roundup

Market Roundup

The Hang Seng Index closed at 17,660 points for the day, rose 237 points or 1.4%. The Hang Seng Technology Index reported at 3,536 points, rose 39 points or 1.1%. The HSCEI Index rose 85 points, or 1.4%, to 6,176 points. The market turnover was HK$63.0billion. Major home appliance manufacturer Midea Group (00300.HK) officially listed on the Hong Kong Stock Exchange, opening at a higher price and closing with a gain of 7.85%. Given its brand recognition, along with the Mainland's implementation of the Consumer Goods Trade-in policy and its discounted IPO price, Midea presents an attractive long-term holding opportunity for institutional investors. Following its listing, the discount of H shares compared to A shares has significantly narrowed, and it is expected that future price movements will follow the overall market trends.

Source: KGI Investment Strategy

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