Market Insight

Half Day Roundup

Hong Kong stocks market recorded five consecutive losses today. The HSI opened 46 points higher and then fell 337 points or 2% in mid-day to 16,197. The HSCEI fell 137 points or 2.5% to 5,469. The HSTECH fell 113 points or 3.2 points. %, reported 3,479. The total half-day turnover of the market was HK$47.9bn. Chinese technology stocks generally fell today, with losses ranging from 1.7% to 6.3%. The market continues to pay attention to the "involution" problem in the Chinese auto market, and auto stocks continue to weaken. The price of new energy vehicle XPEV (9868) fell 9.2% in mid-day, while BYD (1211) fell 2.5%.

Source: KGI Asia Investment Strategy

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