Market Roundup

Hong Kong stock market fluctuated within a narrow range today. After opening 24 points lower, the HSI once fell 130 points, and then turned up. The index rose 16 points, or 0.1%, to 19,762 at mid-day; the HSCEI rose 26 points, or 0.4%, to 7,098; the HSTECH rose 7 points, or 0.2%, to 4,425. The total mid-day market turnover was HK$63.0bn. The four major industry associations in China have spoken out, calling on Chinese companies to be prudent in purchasing American chips. Chip stocks SMIC (0981) and Hua Hong Semiconductor (1347) rose 2.7% and 1% respectively. Guangzhou started issuing catering consumption vouchers, and catering stocks generally rose. Xiabu Xiabu (0520) and Jiu Maojiu (09922.HK) rose 4.2% and 1.4% respectively.

Source: KGI Investment Strategy

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