Market Insight

Half Day Roundup

U.S. job vacancies fell more than expected in April, and the U.S. stock market performed well yesterday. Hong Kong stock market fluctuated today. After opening 45 points higher, the HSI once rose 280 points, but then the gains were significantly narrowed, rising 61 points or 0.3% at mid-day. The HSCEI rose 17 points, or 0.3%, to 6,572; the HSTECH rose 29 points, or 0.8%, to 3,825. The total mid-day turnover of the market was HK$64.52bn. Meituan (3690) is going to announce its quarterly results, and its stock price fell 0.3% today. Oil stocks generally fell today, with PetroChina (0857) and CNOOC (0883) both falling nearly 2% at mid-day.

Source: KGI Asia Investment Strategy

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