Market Insight

Market Roundup

U.S. stocks closed higher last night. The Hang Seng Index opened at 18,261 points in the early session, up 131 points, but extended its half-day gain to 365 points to 18,496 points. The H-Share Index rose 141 points, or 2.2%, to 6,388 points. The Hang Seng Technology Index rose 108 points or 2.6%, to 4,235 points, the market turnover for the first half was HK$50.8 bn. BYD (1211) half year earnings reports show gross profit margin continue to increase to 18.33%, drove its share price rose 5.5% to HK$237.6. The rest of the EV stocks also benefits, Li Auto (2015) and Xpeng Motors (9868) rose 5.5% and 4.3% respectively.

Source: KGI Asia Investment Strategy

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