Market Insight

Market Roundup

U.S. stocks developed individually last Friday. The Hang Seng Index opened 38 points lower to 20,681 points. Driven by various industry news, it turned up 167 points to 20,887 points throughout the day. The China Enterprises Index rose 73 points or 1% to 7,063 point; the Hang Seng Technology Index rose 54 points or 1.3% to 4,311 point. The market turnover was HK$112.1 bn. Hong Kong stocks performed well today. Telecom stocks were boosted by AI technology. China Telecom (728) rose 3.8%. Infrastructure stocks were affected by the positive expectations for the upcoming NPC and CPPCC meeting. China Hongqiao (1378) rose nearly 10%. Chinese securities companies stock price were driven by China's relaxation of overseas listing restrictions. CICC (3908) rose 4.6%.

Source: KGI Asia Investment Strategy

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