Market Roundup

Market Roundup

The U.S. ADP was lower than expected, and market expectations for interest rate cuts increased. The Hang Seng Index opened 152 points higher at 18,577 points. It rose 52 points or 0.3% throughout the day to 18,477 points. The HSCEI Index rose 12 points, or 0.2%, to 6,555 points; the Hang Seng Technology Index rose 33 points, or 0.8%, to 3,840 points. The total daily turnover of the market was 114.5 billion yuan. Chip-related stocks performed well, with SMIC (981) rising 5.6% and Hua Hong Semiconductor (1347) rising nearly 8%. NetEase (9999)'s share price rose nearly 3.3%. In addition, market expectations for interest rate cuts have increased, with SPDR Gold ETF (2840) rising 1.2% to HK$1,707.

Source: KGI Asia Investment Strategy

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