Market Insight

Market Roundup

The Hang Seng Index rose first and then retreated today. The Hang Seng Index rose 252 points in the early session, but then the index turned down and fell 68 points throughout the day to 20,011 points. The H-Share Index fell 45 points to 6,854 points; the Hang Seng Technology Index fell 12 points or 0.3% to 4,538 points. The market turnover was HK$ 135.2 bn. In terms of technology stocks, Kuaishou (1024) turned losses into profits with a net profit of not less than RMB 560 million, and its share price rose 1.2% throughout the day. HSBC (0005) announced in the afternoon that its pre-tax profit increased by 89% year-on-year, beating expectations. The stock price rallied and rose 1.7% to HK$66.3, a new high.

Source: KGI Asia Investment Strategy

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