Market Roundup

As the market waits to see the coming FOMC meeting, Hong Kong stock market fell repeatedly in the morning. The HSI opened 117 points lower and fell 174 points at the beginning. The decline later narrowed, falling 76 points or 0.4% at mid-day to 19,718; the HSCEI fell 21 points or 0.3% to 7,110; the HSTECH fell 21 points or 0.5% to 4,392. The total mid-day market turnover was HK$66.80bn. The total sales volume of sporting goods seller Taobao (6110) in the 3Q24 fell by single digits yoy% but beat consensus, and its stock price rose 5.5%.

Source: KGI Investment Strategy

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