Market Insight

Half Day Roundup

Last night, the U.S. Nasdaq Composite Index and the S&P 500 Index closed down. The Hang Seng Index opened 75 points higher at 17,080 points. Afterwards, the index performance remain volatile, rose 28 points or 0.17% in half a day to 17,033 points; the HSCEI Index fell 4 points or 0.1 %, to 6,012 points; the Hang Seng Technology Index rose 22 points, or 0.7%, to 3,443 points. The total half-day turnover of the market was HK$60.2 billion. EastBuy (1797) top e-commerce influencer Dong Yuhui resigned, and its stock price plummeted 21% to 9.8 yuan in half a day. JD.com (9618) and Haier Smart Home (6690) benefited from the central government’s launch of the home appliance trade-in subsidy policy, rose 3.6% and 4.7% respectively.

Source: KGI Asia Investment Strategy

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