Market Roundup

The Hang Seng Index opened 45 points lower at 20,433 points, but it recovered 20 points or 0.1% to close at 20,498 points. The China Enterprises Index rose 22 points or 0.3% to 7,363 points, and the Hang Seng Tech Index increased by 29 points or 0.6% to 4,521 points. The total market turnover for the day was HKD 154.8 billion. In terms of industry performance, automobile stocks were favored, with Li Auto (2015) and Geely Automobile (175) rose by 4.9% and 7.1%, respectively. On the other hand, Citigroup had a bearish outlook on Baidu’s (9888) advertising revenue performance, causing its stock price to drop by 2.9%.

Source: KGI Investment Strategy

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