Market Insight

Half Day Roundup

The market is waiting to see the US CPI released this week. D&J index rose 186 points or 0.6% last night. Hong Kong market followed today. HSI opened 132 points higher and then expanded its gains. HSI rose 218 points or 1% in half a day to 21,549; HSCEI rose 81 points or 1.1% to 7,344; HSTECH rose 49 points, or 1.1%, to 4,607. The market's half-day turnover totaled HK$78.9bn. Alibaba (9988) signed a strategic cooperation with Hangzhou, and its stock price rose 3.6% to HK$113.4. Other Chinese tech stocks generally rose today, Tencent (0700) and Baidu (9888) rose 2.9% and 3.2% respectively.

Source: KGI Asia Investment Strategy

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