Market Roundup

Market Roundup

The United States reached a debt ceiling agreement, and US stocks closed higher. The Hang Seng Index opened 360 points higher at 18,567 points and rose 733 points or 4% to 18,950 points; It gained 193 points or 5.3% to 3,824 points. The China Enterprises Index rose 279 points or 4.5% to 6,428 points; the Hang Seng Technology Index rose 193 points or 5.3% to 3,824 points. The market turnover was HK$149.1 bn. Technology stocks rebounded, with Meituan (3690) up 7.8% and Alibaba (9988) up 6.7%. Longfor (960) soared 17% to HK$17, Country Garden Services (6098) rose 13% to HK$9.49.

Source: KGI Asia Investment Strategy

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