Market Insight

Market Roundup

The US dollar index continued to rise, and Hong Kong stock market fluctuated today. The HSI opened 122 points lower this morning and the decline intensified. It fell 183 points at mid-day. However, the index suddenly rebound before the market closed and the HSTECH fell 23 points or 0.65%, closing at 3,677. The total daily turnover of the market was HK$96.47bn. Haidilao (6862) announced a change in CEO, and its stock price fell 2.8% today. Midea Real Estate (3990) plans to divest its real estate development business and plan to distribute RMB 5.9 per share or in-kind distribution. Its stock price rose 69.9%.

Source: KGI Asia Investment Strategy

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