Market Insight

Half Day Roundup

Hong Kong stocks performed well today. The Hang Seng Index opened 20 points lower this morning, at 16,418 points. The half-day decline expanded to 77 points, or 0.47%, to 16,361 points; the H-Share Index fell 5 points, or 0.1%, to 5,668 points; the Hang Seng Technology Index fell 30 points or 0.9%, quoted at 3,383 points. The total half-day turnover of the market was HK$50.5 billion. The U.S. biosafety bill was passed, and WuXi suffered a significant setback today. WuXi Biologics (2269) and WuXi AppTec (2359) fell 20.7% and 16% respectively. JD.com (9618)'s performance exceeded expectations and it initiated buybacks. Its stock price rose 6% to HK$94.6.

Source: KGI Asia Investment Strategy

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