Market Insight

Half Day Roundup

The Hang Seng Index opened 145 points higher. After opening at 16,119 points, it once expanded to a rise of 271 points in the half day. However, it fell 12 points or 0.1 points in the half day to 16,125 points. The H-Share Index fell 39 points, or 0.7%, to 5,435 points; the Hang Seng Technology Index fell 27 points, or 0.8%, to 3,217 points. The total half-day turnover of the market was NT$60.5 billion. Yum China (9987)'s net profit rose 81% in the fourth quarter of last year, and it announced a dividend of US$0.16, a 23% increase year-on-year. The stock price rose 14.5% to HK$332. SMIC (981)'s profit attributable to shareholders in 2023 fell 50.4% year-on-year to US$900 million, and it announced guidance for the first quarter of this year. The gross profit margin will further fall to the range of 9-11%. The stock price fell 6.8% to 14.3 Hong Kong dollar.

Source: KGI Asia Investment Strategy

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