Market Insight

Market Roundup

In the summary of the interest rate meeting, it was mentioned that there may be a mild recession this year. The three major U.S. stock indexes fell. The Hang Seng Index opened 333 points lower at 19,978 point. The full-day index rose to 35 points or 0.2%, at 20,344 point; The China Enterprises Index rose 9 points or 0.1% to 6,875 point; the Hang Seng Technology Index fell 7 points or 0.2% to 4,160 point. The market turnover was HK$ 110 bn. Benefited from rising oil prices, PetroChina (857) and CNOOC (883) rose 0.6% and 1.6%. The price war of EV sector continued, BYD (1211) and Geely (175) fell 0.2% and 0.9%.

Source: KGI Asia Investment Strategy

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