Market Insight

Market Roundup

The Hang Seng Index opened 52 points lower, at 16,159 points, and the day's decline expanded to 260 points, or 1.6%, to 15,952 points; the China National Index fell 108 points, or 1.9%, to 5,360 points; the Hang Seng Technology Index fell 124 points, or 3.7%, to 3,186 points. The total market turnover was HK$131.6 bn. In the Mainland, 115 domestically produced online games received approval this month, but Tencent (700) followed the market and retreated 2.7%. Today, Lenovo (992) suffered a 9.2% drop in share price due to an article in the US "Newsweek" stating that the US government offices should ban the use of Lenovo computers. In addition, WuXi is exposed to the risk of US sanctions, and WuXi Biologics (2269) fell 18.2%.

Source: KGI Asia Investment Strategy

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