Market Insight

Half Day Roundup

China's GDP growth is expected to be around 5% in 2024, but the official says it is not easy to achieve. The Hang Seng Index opened 252 points lower today, at 16,344 points. The half-day decline expanded to 323 points, or 1.9%, to 16,273 points; the H-Share Index fell 104 points, or 1.8%, to 5,608 points; the Hang Seng Technology Index fell 111 points, or 3.2% at 3,364 points. The total half-day turnover of the market was HK$63.2 billion. Haidilao (6862) introduced a franchising business model and once made gains in the trading hours, but closed down for the first half. On the other hand, JD.com (9618)’s share price fell 5.9% before the earning result.

Source: KGI Asia Investment Strategy

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