Market Roundup

Hong Kong stock market rose today. The HSI opened 26 points higher and then expanded its gains. It rose 342 points or 1.7% at mid-day to 20,841; the HSCEI rose 147 points or 2% to 7,510; the HSTECH rose 105 points or 2.3% to 4,627. The total mid-day market turnover was HK$107.93bn. Automobile stocks continued to perform well, with Geely (0175) and Ideal (2015) rising 8.2% and 7.4% respectively. China Resources Power (0836) raised nearly HK$7.2bn through a share placement at a discount of 5.06%, and its stock price fell 5.8%. UBTECH ROBOT (9880) raised HK$408mn through a rights issue at a discount of nearly 10%. The stock price opened 10% lower and then rose 7.2% at mid-day.

Source: KGI Investment Strategy

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