Market Insight

Market Roundup

The market is worried about the economy prospects, and US stocks continue to fall. As for the last trading day of the Year of the Tiger, the Hang Seng Index opened 162 points higher at 21,812 point. The market closed at 22,044 point, rose 393 points. The market turnover was HK$95.1bn, CEI rose 171 points to 7,483 point; the Hang Seng Technology Index rose 119 points to 4,568 points. Meituan (3690) stopped falling and rebounded 4%, Alibaba (9988) rose 3.7%, and Tencent (700) rose 2.4%. Two Chinese owned oil stock release profit alert, PetroChina (857) and CNOOC (883) rose 3.6% and 5.4% respectively.

Source: KGI Asia Investment Strategy

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