Market Insight

Half Day Roundup

Hong Kong stock market fell in the morning as the market waited to see the upcoming the U.S. PCE figure. The HSI opened 26 points lower and then expanded its losses, falling 173 points or 1% at mid-day to 17,700; the HSCEI fell 84 points or 1.3% to 6,222; the HSTECH fell 63 points or 1.8% to 3,437. The mid-day market turnover was HK$48.42bn. Anta (2020) earned 63% in 1H24 and the interim dividend increased by 44% together with HK$10bn share buyback. The stock price rose 4.1%. Alibaba (9988)'s dual primary listing took effect on the HKEX today, and the stock fell 1.1%. JD.com (9618) announced a US$5bn new share repurchase plan, and its stock price rose 1%.

Source: KGI Investment Strategy

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