Market Insight

Half Day Roundup

Hong Kong stock index futures settlement day today, the stock market fell repeatedly. After opening 87 points lower, the HSI fell 221 points, and narrowed to a drop of 105 points, or 0.6%, at 16,512 at mid-day; the HSCEI fell 52 points, or 0.9%, to 5,773; the HSTECH fell 57 points, or 1.7% to close at 3,413 points. The total mid-day turnover of the market was HK$60.66bn. Alibaba announced the withdrawal of Cainiao’s listing application, and its stock price fell 2.2%. SenseTime (0020)'s losses expanded to RMB 6.44bn last year, and its stock price fell 7.7%. BYD (1211)'s full-year net profit growth of 81% was still lower than consensus, and its stock price fell 3.9%.

Source: KGI Asia Investment Strategy

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