Market Insight

Half Day Roundup

Hong Kong stocks followed the decline of US stocks and opened lower by 129 points at 21,154 points. Managed to closed up at 21,357 points, up 73 points for the first half. The China Enterprises Index rose 23 points or 0.3% to 7,212 point; the Hang Seng Technology Index rose 24 points or 0.5% to 4,455 point. Half-day market turnover was HK$51.66 bn. Today, the official media issued a voice to remind investors not to follow suit and speculate on the concept of chat robots. Baidu (9888) and Zhihu (2390) fell 5.3% and 12% respectively. In addition, casino stocks rose, Sands (1928) rose nearly 4%, Galaxy Entertainment (0027) rose more than 2%.

Source: KGI Asia Investment Strategy

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