Market Insight

Half Day Roundup

Market is waiting to see the FOMC result, Hong Kong stocks fluctuated today. After opening 29 points higher, the HSI fell 99 points, and then recovered, rising 30 points or 0.2% at mid-day to 16,559; the HSCEI rose 24 points, or 0.4%, to 5,804; the HSTECH rose 14 points or 0.2% to 3,542. The total mid-day turnover of the market was HK$48.33bn. Sporting goods stock Li Ning (2331) saw its net profit fall by 22% last year, and its stock price rose by 6.4% at mid-day. Xiaomi (1810)'s adjusted net profit in the 4Q23 rose 2.36x, beating consensus, but its stock price fell 2.8% in mid-day.

Source: KGI Asia Investment Strategy

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