Market Insight

Market Roundup

The Hang Seng Index opened slightly higher by 9 points, opening at 19,117 points. The index’s increase expanded to 269 points at most, first half trading session rose 98 points or 0.5% at 19,207 points; The China Enterprises Index rose 57 points or 0.9% to 6,521 points; the Hang Seng Technology Index rose 25 points or 0.6% to 3,865 points. The half day market turnover was HK$ 55.3 bn. Chinese property developer stock performance remain volatile, Longfor (960) rose over 9%, Country Garden (2007) rose 6%. CPCA expected that the wholesale sales of new energy car in May will increase by 11% month-on-month. BYD (1211) rose 1.9%, and Li Auto (2015) rose 4.6%.

Source: KGI Asia Investment Strategy

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