Market Roundup

Market Roundup

The DXY index continued to rise, with the USD TO CNY at 7.32, dragging down the Hong Kong stock market's decline today. The Hang Seng Index opened 13 points lower and then extended its decline. It fell 175 points or 1% to 18,275 points. The H-Share Index fell 58 points, or 0.9%, to 6,345 points. The Hang Seng Technology Index fell 62 points, or 1.5%, to 4,115 points. The market turnover was HK$43.6 bn. U.S. Congressman states SMIC (981) violated sanctions, and the market was worried that the United States may further restrict SMIC. The stock price fell 5.1% to HK$20.35. In addition, oil prices continued to rise, PetroChina (857) and CNOOC (883) rose 2.4% and 1.8% respectively.

Source: KGI Asia Investment Strategy

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