Market Roundup

Market Roundup

U.S. stocks performed well as concerns about a U.S. economic recession subsided. After the Hang Seng Index opened 177 points higher at 17,286 points, the index once rose up to 365 points, and the market closed up 321 points or 1.9% to 17,430 points; the HSCEI Index rose 127 points or 2.1% to 6,162 points; the Hang Seng Technology Index rose 74 points or 2.2%, reported at 3,459 points. The total daily turnover of the market was HK$101.4 billion. Alibaba (9988) announced a positive outlook, and its stock price rose 4.8%. MTR (66)'s net profit increased by 45%, and its stock price rose by 5.2%. The net profit of CK Hutchison Holdings (0001) fell by 8.9%. The management also pointed out that the outlook was unclear, and the stock price fell by 3.7%.

Source: KGI Investment Strategy

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