Market Roundup

U.S. President Trump threatened to fire Federal Reserve Chairman Powell, causing the Dow Jones Industrial Average to drop 971 points or 2.5% overnight on the 21st. The Hang Seng Index opened 91 points lower, initially rising 51 points to a high of 21,446 points before falling back. It later dropped 204 points to a low of 21,191 points. By midday, it was down 7 points at 21,387 points; the China Enterprises Index fell 9 points or 0.1% to 7,887 points; the Hang Seng Tech Index fell 24 points or 0.5% to 4,863 points. The total market turnover for the half-day was HKD 137.806 billion. JD.com (9618) and Meituan (3690) saw intensified competition, with their stock prices both falling by 6.6%.

Source: KGI Investment Products and Solutions Department

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