Market Insight

Market Roundup

HKD-RMB Dual Counter Model launched today, while Hong Kong market fell in mid-day. The HSI opened 56 points lower and then expanded its decline. It fell 314 points or 1.6% in mid-day to 19,726; The HSCEI fell 124 points, or 1.8%, to 6,708; the HSTECH fell 111 points, or 2.6%, to 4,122. The market's half-day turnover totaled HK$53.5bn. China tech stocks fell generally. Tencent (0700), Alibaba (9988), Meituan (3690) and JD.com (9618) fell between 3.3% and 3.8%. Domestic demand stocks fell as well. Anta (2020) and Li Ning (2331) fell by 3.9% to 5%.

Source: KGI Asia Investment Strategy

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