Market Insight

Market Roundup

Yesterday, the U.S. released the minutes of the interest rate meeting, and officials worried about the inflation risk. The Hang Seng Index opened 306 points lower today, at 18,023 points. The decline once widened to 428 points, and then narrowed to only 3 points throughout the day, at 18,326 points. The China Enterprises Index rose 19 points or 0.3% to 6,292 points. The Hang Seng Technology Index rose 32 points or 0.8% to 4,158 points. The market turnover was HK$ 112.9 bn. Tencent (700) opened lower and rose more than 1% after the results. The auto sector performed well today, with Xpeng Motors (9868) and Li Auto (2015) up 4.4% and 3.6% respectively.

Source: KGI Asia Investment Strategy

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