Market Insight

Market Roundup

U.S. stocks performed well last night. The HSI opened 57 points higher in the morning and then expanded its gains. The index once rose 362 points and then retreated slightly. It rose 204 points or 1.3% for today and closed at 16,302; the HSCEI rose 73 points or 1.4%, closing at 5,494; the HSTECH rose 74 points, or 2.2%, to close at 3,503. The daily market turnover was HK$93.72bn. WuXi has once again received favorable rating from banks today. WuXi Biologics (2269) and WuXi AppTec (2359) rose 8.8% and 6.7% respectively. In addition, Meituan (3690) made its first buyback, and its stock price rose 5.4% today. Automobile stocks generally rose today, with share prices of BYD (1211) and Li Auto (2015) rising 3.8% and 4.4% respectively.

Source: KGI Asia Investment Strategy

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