Market Insight

Market Roundup

The U.S. market is waiting to see the FOMC Meeting Minutes. D&J index fell nearly 700 points or 2.1% yesterday. Hong Kong stocks fluctuated today. HSI fell 184 points in the morning and once fell as low as 20,344. HSI closed at 20,423 today, down 105 points or 0.5%. HSTECH closed at 4,100, down 57 points or 1.4%. HSCEI fell 92 points, or 1.3%, to 6,832. Market turnover was HK$114.6bn. HSBC (0005) announced yesterday that its 4Q22 results beat market consensus, and its share price rose 5.3% to HK$60.65 today. Chinese technology sector weakened today, Tencent (0700) and Alibaba (9988) fell 1.6% and 2.7% respectively.

Source: KGI Asia Investment Strategy

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