Market Insight

Half Day Roundup

On the first trading day of the Year of the Rabbit, the Hong Kong stock market opened 342 points higher today to 22,386 points, and the half-day rally continued to rise 381 points to 22,426 points. China Enterprises Index rose 153 points to 7,637 point; Hang Seng Technology Index 144 points to 4,713 point. Market turnover was HK$65.8 bn. Xiaomi (1810) soared more than 9%, Tencent (700) rose 3%, regained the HK$400 level, Meituan (3690) rose 2%, Alibaba (9988) rose 0.4%. In addition, Sands China (1928)'s annual results turned negative and its stock price fell 1.5% to HK$29.5.

Source: KGI Asia Investment Strategy

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