Market Insight

Market Roundup

The HSI opened 175 points higher today and then expanded its gains. It once rose more than 260 points and then narrowed its gains. The HSI closed at 18,482, down 1 point. The HSTECH closed at 4,195, down 39 points or 0.9%. The HSCEI fell 30 points, or 0.5%, to 6,356. Market turnover was HK$108.09bn. Xiaomi (1810)'s adjusted interim net profit rose 70%, which beat expectations, and its share price rose 0.6%. China Ping An (2318) reported a 1% drop in net profit 1H23 but increased its interim dividend. The share price rose 0.4%. China Resources Mixc Lifestyle Serv (1209) reported a 37% increase in 1H23 net profit and increased interim dividend. The share price fell 1.2% today.

Source: KGI Asia Investment Strategy

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