Market Roundup

The Hang Seng Index opened slightly higher by 12 points, starting at 19,613 points, but turned to a loss of 257 points or 1.31% by midday, closing at 19,344 points. The China Enterprises Index fell by 99 points or 1.4%, closing at 6,936 points. The Hang Seng Tech Index dropped by 52 points or 1.2%, closing at 4,306 points. The total market turnover for the half-day was HKD 79.6 billion. Baidu (9888) mentioned in a conference call that its fourth-quarter advertising revenue has not significantly recovered, causing its stock price to drop by 9%. It is rumored that Xiaomi (1810) will launch its second pure electric SUV between February and March next year, leading to a 3.2% rise in its stock price.

Source: KGI Investment Strategy

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