Market Insight

Market Roundup

Hong Kong stock market fluctuated today. The HSI fell 71 points after opening and then rose 139 points. The index fell in the afternoon, falling 25 points or 0.1% to close at 19,195. The HSCEI fell 3 points or 0.05% to close at 6,817; the HSTECH rose 11 points, or 0.3%, to close at 3,992. The total daily turnover of the market was HK$126.7bn. In terms of technology stocks, JD.com (9618) sold US$1.75bn in convertible senior notes, and its stock price fell 2.3%. Electric vehicle stock Xpeng (9868) narrowed its first-quarter loss to RMb1.37bn, which beat consensus. Its stock price rose 13.1%. Lenovo Group (0992) was upgraded to "overweight" by a major bank, and its share price rose 12.2%.

Source: KGI Asia Investment Strategy

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