Market Roundup

Market Roundup

The inflation data released by the United States yesterday was higher than market expectations, while the December inflation data released by China today remained negative. The Hang Seng Index opened 85 points lower in the early morning at 16,217 points, and fell 57 points to 16,244 points throughout the day; the H-Share fell 12 points or 0.2% to 5,482 points; the Hang Seng Technology Index fell 32 points or 0.9% to 3,470 points. The total daily turnover of the market was HK$69.5 billion. Bitcoin concept stocks fell back, with BC Technology (863) fell 25%. Institutional shareholders of Meitu (1357) sold shares at a discount, and the stock price fell 12.5%.

Source: KGI Asia Investment Strategy

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