Market Insight

Market Roundup

Market is waiting to see the upcoming U.S. inflation figures. Hong Kong market rose first and then fell today. The HSI opened 175 points higher and then fell 37 points at noon. The HSI trended steadily in the afternoon, closing at 18,009 points today, down 16 points or 0.1%. The HSTECH reported at 4,041, down 22 points or 0.6%. The HSCEI fell 24 points, or 0.4%, to 6,235. The market turnover was HK$79.9bn. Mainland property stocks continued the capital inflows, with the share prices of private developers Powerlong Properties (1238) and R&F (2777) rising by 6.0% and 8.4%. Alibaba Cloud's large open source AI model was officially offered to the public, but Alibaba (9988) fell 0.9% to HK$85.6 today.

Source: KGI Asia Investment Strategy

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