Market Roundup

The Hang Seng Index followed the US stock market and opened 135 points higher at 21,657 points, but ended the day down 227 points or 1.06%, closing at 21,294 points. The China Enterprises Index fell 104 points or 1.3%, closing at 7,843 points. The Hang Seng Tech Index dropped 144 points or 2.7%, closing at 5,142 points. The total market turnover for the day was HKD 219.6 billion. BYD (1211) announced its new Auto-driving system last night, and its stock price initially rose by 4.5%, but ended the day down 0.7%, closing at HKD 327.8. Other stocks related to Auto-driving systems, such as Horizon Robotics (9660), saw a significant decline, ending the day down 8.6%.

Source: KGI Investment Strategy

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