Market Insight

Market Roundup

US stocks performed well last night, but Hong Kong stocks gave up yesterday's gains and opened 95 points higher at 18,174 points, but the market close fell 246 points or 1.3% to 17,833 points. The H-Share Index fell 88 points or 1.4% to 6,117 points. The Hang Seng Technology Index fell 76 points, or 1.8%, to 4,050 point. The market turnover was to HK$115.2 bn. The results of technology stocks were released. JD.com (9618) rose 1.9% to HK$108 and Tencent (700) rose 0.7% to HK$324.8. In addition, biotechnology stocks were under pressure today, with WuXi Biologics (2269) falling 5.8% to HK$47.75.

Source: KGI Asia Investment Strategy

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