Market Roundup

The National Development and Reform Commission announced that it will implement subsidies for the purchase of digital products such as mobile phones. The Hang Seng Index opened 85 points higher at 19,709 points, and rose 136 points or 0.7% for the day, closing at 19,760 points. The China Enterprises Index rose 69 points or 0.9% to 7,159 points. The Hang Seng Tech Index rose 45 points or 1.0% to 4,403 points. The total market turnover for the day was 160.3 billion HKD. Stimulated by the policy, Xiaomi's (1810) stock price rose 6.6%, reaching a new high. MINISO (9896) obtained the Black WuKong IP authorization, and its stock price rose 8.6%.

Source: KGI Investment Strategy

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