Market Insight

Half Day Roundup

Powell confirmed that inflation has fallen. US stocks closed up. The Hang Seng Index opened slightly lower by 15 points to 21,284 points. The market closed up 58 points in half a day to 21,357 points. The China Enterprises Index fell 18 points to 7,213 points; the Hang Seng Index fell 60 points to 4,456 points. Half-day market turnover was HK$66.7 bin. The ChatGPT concept continues to be speculated. Some mainland stock commentators pointed out that Zhihu (2390) can cooperate with the chatbot, and its stock price rose 28.8% to HK$29.95. In addition, the market rumored that tiktok may launch a food delivery service, Meituan (3690), the main food delivery platform in China, still fell nearly 7% to HK$152.3.

Source: KGI Asia Investment Strategy

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