Market Insight

Market Roundup

The Hong Kong stock market rose first and then retreated. The HSI rose 252 points in morning, but then narrowed its gains and fell 1 point in mid-day to 20,077. The HSCEI fell less than 1 point to 6,899; the HSTECH rose 29 points or 0.6% to 4,579. The market's half-day turnover totaled HK$73.7bn. As for technology stocks, Kuaishou (1024) turned losses into profits with a net profit of not less than RMb560mn, and its share price rose 2.7% in mid-day. Other China tech stocks generally rose. Tencent (0700) and Alibaba (9988) rose 0.2% and 1.4% respectively.

Source: KGI Asia Investment Strategy

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