Market Roundup

On Christmas Eve, the Hong Kong stock market will be close for second half trading session. The Hang Seng Index opened 28 points higher and then expanded its gains, rose by 282 points at one point to reach a high of 20,165 points. It closed up 215 points or 1.1% at 20,098 points. The China Enterprises Index rose 90 points or 1.2% to close at 7,303 points. The Hang Seng Tech Index rose 49 points or 1.1% to close at 4,507 points. The total turnover for the half-day session was HKD 84.59 billion. Xiaomi's (1810) mobile division president, Lu Weibing, estimated that Xiaomi's annual smartphone shipments would reach 170 million units, an increase of 16% year-on-year. Xiaomi's stock price rose 3.2% to HKD 32.75, hitting a more than three-and-a-half-year high.

Source: KGI Investment Strategy

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