Market Insight

Half Day Roundup

U.S. stocks fell sharply due to the bad news of banking sector last night. The Hang Seng Index opened 345 points lower today to 19,580 points. the trend for the first-half was weak. It closed down 491 points or 2.5% in half a day to 19,432 points; the China Enterprises Index fell 164 points or 2.5 %, at 6,485 point; the Hang Seng Technology Index fell 142 point, or 3.6%, to 3,789 point. The market's half-day turnover was HK$76.6 bn. JD.com (9618) slumped over 11% to HK$158.2 after the results. As for EV stocks, the market was worried about the impact of the price war. BYD (1211) fell 8%, and Geely (175) fell nearly 5%.

Source: KGI Asia Investment Strategy

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