Market Insight

Market Roundup

Hong Kong stock market fell today. The HSI opened 122 points lower and continued its decline. It fell 219 points in the afternoon and then stabilized. HSI closed at 16,629 for the day, down 162 points or 1.0%. The HSTECH reported at 3,730, down 50 points or 1.3%. The HSCEI fell 65 points, or 1.2%, to 5,634. The market turnover was HK$94.32bn. Alibaba (9988) reduced its holdings in Xpeng Motors (9868) and cashed out US$391mn, reducing its shareholding to 7.5%. The latter's stock price fell 6.7% today. Tang Xiaoou, the founder of SenseTime (0020), passed away due to illness, and the stock price fell 11.1% today.

Source: KGI Asia Investment Strategy

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