Market Roundup

Hong Kong stock market fell and then rebounded today. The HSI opened 59 points higher and then fell 158 points. The market rebounded in the afternoon, rising 215 points or 0.9% to close at 23,905; the HSCEI rose 108 points or 1.2% to close at 8,850; and the HSTECH rose 97 points or 1.7% to close at 5,736. The total market turnover for the day was HK$233.11bn. Meituan (3690)'s adjusted profit increased 1.25x yoy last quarter. The market is concerned about the impact of its overseas investment and social security spending, and its share price fell 1.1% today. NIO (9866)’s net loss widened to RMB 7.13bn in the fourth quarter of last year, and its share price fell 3.3%.

Source: KGI Investment Strategy

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