Market Roundup

Market Roundup

Hong Kong stock market resumed trading following the Labor Day holiday and the suspension of Hong Kong Stock Connect southbound trading. It continued their upward trend in the morning. The HSI opened 2 points lower and then rose, rising 444 points or 2.5% today to close at 18,207; the HSCEI rose 163 points or 2.6% to close at 6,437; the HSTECH rose 164 points or 4.5% to close at 3,865. The total daily turnover of the market was HK$115.91bn. Chinese technology stocks generally performed well, with Meituan (3690), Tencent (0700) and Alibaba (9988) rising 8.8%, 3.8% and 2.4% respectively. Standard Chartered (2888)'s 1Q24 PBT rose 25%, better than consensus, and its stock price rose 6%. HSBC (0005) also rose 3.4% today.

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.