Market Insight

Market Roundup

Hong Kong stocks fell for the fourth consecutive day. The Hang Seng Index opened 83 points lower at 19,135 points, and then extended its decline to 373 points or 1.9% to 18,845 point for the first half trading session; The H-Share Index fell 134 points, or 2.1%, to 6,372 points; the Hang Seng Technology Index fell 104 points, or 2.6%, to 3,858 points. The market's half-day turnover was HK$ 36.9 bn. Hong Kong stocks continued to trade at a range-bound. While today EV stocks suffered setbacks, Xpeng (9868), NIO(9866) and Li Auto (2015) fell 9.8%, 7.3% and 3.4% respectively. Procurement results of Chinese medicines were released, and the prices of selected Chinese medicines fell by 50%, related stock plunged, Sino Biopharm (1177) fell by 6.1%。

Source: KGI Asia Investment Strategy

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