Market Insight

Half Day Roundup

China's PMI index generally beat expectations. The Hang Seng Index opened 120 points lower at 16,391 points and closed at 16,636 points in half a day, up 125 points or 0.75%; the HSCEI rose 65 points or 1.1% to 5,743 points; the Hang Seng Technology Index rose 54 points or 1.6%, quoted at 3,485 points. The total half-day turnover of the market was HK$62.6 billion. Today, the Hang Seng Index was mainly driven upward by Meituan (3690), with its stock price rising 8.4% to HK$86.5. In addition, New World Development (17) gave up its post-budget gains and fell 6.6% today to HK$9.22.

Source: KGI Asia Investment Strategy

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