Market Insight

Half Day Roundup

Official media cited expert comments, pointing to the possibility of lowering the LPR in February and the possibility of lowering the policy rate in March. In addition, Central Huijin announced that it has expanded the scope of holdings of exchange-traded open-end index funds. The news drove the Hang Seng Index to open 31 points higher at 15,541 points, the half-day gain expanded to 381 points, to 15,890 points. The H-Share Index rose 161 points, or 3.1%, to 5,378 points; the Hang Seng Technology Index rose 128 points, or 4.2%, to 3,166 points. The total half-day turnover of the market was HK$54.6 billion. As for technology stocks, Alibaba (9988), Meituan (3690) and Tencent (700) rose 6.8%, 4.9% and 2.3% respectively. Giordano (709) shareholder proposed to dismiss the chairman and CEO, and the stock price fell 4.9% to HK$1.94.

Source: KGI Asia Investment Strategy

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