Market Roundup

U.S. core inflation unexpectedly slowed last month, boosting U.S. stocks last night. The Hong Kong stock market rose in the morning session, with the Hang Seng Index opening 168 points higher and once rising 378 points to 19,664 points. It closed the morning session up 159 points or 0.8% at 19,445 points. The China Enterprises Index rose 49 points or 0.7% to 7,061 points. The Hang Seng Tech Index rose 37 points or 0.9% to 4,401 points. The total turnover of the market in the morning session was HKD 82.901 billion. NetEase (9999) opened higher but its gains narrowed to 1.7%. SMIC (981) hit a new high but then fell 4%.

Source: KGI Investment Strategy

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