Market Insight

Market Roundup

In the summary of the interest rate meeting, it was mentioned that there may be a mild recession this year. The three major US stock indexes fell. The Hang Seng Index opened 333 points lower at 19,978. The half-day decline narrowed to 100points or 0.5%, at 20,209 points; The China Enterprises Index fell 42 points or 0.6% to 6,824 points; the Hang Seng Technology Index fell 46 points or 1.1% to 4,120 point. The half day market turnover was HK$61.8 bn. Benefited from rising oil prices, PetroChina (857) and CNOOC (883) go against the trend and rose 1% and 2.4%. The price war for EV sector continued. BYD (1211) and Geely (175) fell 1.5% and 2.4%.

Source: KGI Asia Investment Strategy

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