Market Insight

Half Day Roundup

U.S. stocks are once again driven by the concept of AI, with the S&P 500 Index innovators. However, after opening 41 points lower, the HSI once fell 135 points. Then the decline narrowed to 116 points, or 0.7%, at 16,609 at mid-day; the HSCEI fell 38 points, or 0.7%, to 5,726; the HSTECH fell 13 points. or 0.4%, at 3,386. The total mid-day turnover of the market was HK$44.32bn. After BYD (1211) launched low-priced models earlier, it recently launched a model priced at RMB 1.68mn. It is believed that it will seize market share in all aspects. The stock price rose 1.9% to HK$188.8. After being downplayed by major banks last week, Lenovo (0992) reiterated today that it is supported by other banks. The stock price rose 4.3% to HK$8.9.

Source: KGI Asia Investment Strategy

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