Market Roundup

Market Roundup

Today, the positive performance of the A-shares led to a rebound in the Hong Kong stock market. The Hang Seng Index opened 67 points higher this morning and expanded its gains, closing up 342 points or 2% at 17,344 points. The HSCEI Index rose 120 points or 2% to 6,107 points, and the Hang Seng Tech Index increased by 103 points or 3% to 3,517 points. The total market turnover for the day was HKD 118.8 billion. HSBC (0005) earnings beats consensus and announced a USD 3 billion buyback, price rose 4.6%. On the other hand, Hang Seng Bank (11) also announced its earnings, but its non-performing loan ratio significantly increased to 5.32%, causing its stock price to drop by 5.7%, making it the worst-performing blue-chip stock.

Source: KGI Asia Investment Strategy

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