Market Insight

Half Day Roundup

Hong Kong stocks rose in the morning market today after US regulators announced that they would guarantee deposits at Silicon Valley Bank and Signature Bank, and it was rumored that the Fed may postpone interest rate hikes in March. HSI opened 91 points higher and then expanded its gains. It rose 436 points or 2.3% to 19,756 in mid-day. The HSCEI rose 186 points or 2.9% to 6,631; the HSTECH rose 166 points or 4.4% to 3,948. The market's half-day turnover totaled HK$81.28bn. Traditional blue chips performed well today. AIA (1299) rebounded 3.2% to HK$84.2. HKEx (0388) rose 3% to HK$327.8. Stocks Bilibili (9626), which included in Hong Kong Stock Connect, rose 13.6%.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.