Market Insight

Market Roundup

Minutes of the FOMC meeting showed that governors did not discuss cutting interest rates. US stocks generally fell yesterday. Hong Kong stocks were mixed today, with thin trading volume. The HSI half-day volatility was less than 120 points, falling 13 points to 17,720; the HSCEI closed flat at 6,076; the HSTECH fell 4 points, or 0.1%, to 4,032. The total mid-day turnover of the market was HK$41.61bn. Baidu (9888)'s adjusted net profit rose 23% in the 3Q23 and beat consensus. Its stock price rose 5.1%. Kuaishou (1024)'s 3Q23 adjusted net profit turned a profit, earning RMB 3.17bn and beat consensus. Its stock price rose 3%.

Source: KGI Asia Investment Strategy

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