Market Insight

Market Roundup

The Hong Kong stock market failed to continue its rally for the third day. The HSI opened 61 points lower this morning and then continued to fall. It fell 268 points or 1.4% in mid-day. The HSI continued to face selling pressure in the afternoon and closed at 19,110, down 305 points or 1.6%. The HSTECH closed at 4,016, down 57 points or 1.4%. The HSCEI fell 123 points, or 1.9%, to 6,489. Market turnover was HK$86.9bn. SenseTime (0020) continued to suffer today, down 4.5%. For domestic consumption stocks, Li Ning (2331) closed at HK$41.85, down 4.9%. Heavy weighted-stocks, Tencent (700), Alibaba (9988) and Meituan (3690) fell 1.1%, 1.6% and 2.4% respectively.

Source: KGI Asia Investment Strategy

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