Market Roundup

Half Day Roundup

Hong Kong stock market rose today, driven by stocks with out-performed earning result. The HSI opened 139 points higher and then expanded its gains. It rose 184 points or 1.1% at mid-day to 17,614; the HSCEI rose 82 points or 1.3% to 6,244; the HSTECH rose 86 points, or 2.5%, to 3,545. The total mid-day turnover of the market was HK$52.01bn. After JD.com (9618) announced better-than-consensus results, its stock price continued to rise by 5.4% today. China has implemented car trade-in subsidies, with the maximum subsidy for new energy passenger cars being Rmb$20,000. Li Auto (2015) and BYD (1211) rose 6.3% and 1.5% respectively.

Source: KGI Investment Strategy

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