Market Insight

Market Roundup

HKD-RMB Dual Counter Model launched today, while Hong Kong stock market fell generally. The HSI fell 314 points in mid-day and then gradually recovered the lost ground. It closed at 19,912 today, down 127 points or 0.6%. The HSTECH closed at 4,178, down 55 points or 1.3%. The HSCEI fell 56 points, or 0.8%, to 6,776. Market turnover was HK$103.0bn. China-tech stocks fell in general. Tencent (0700), Alibaba (9988), Meituan (3690) and JD.com (9618) fell between 0.7% and 2.1%. Domestic demand stocks fell as well, Anta (2020) and Li Ning (2331) both fell around 4.0%.

Source: KGI Asia Investment Strategy

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