Market Insight

Market Roundup

Asia-Pacific stock markets rose collectively today, and Hong Kong market followed and rebounded today. The HSI opened 142 points higher and then expanded to 236 points. However, the gains narrowed in the afternoon. The HSI rose 108 points or 0.7% to 16,613 today; the HSCEI rose 19 points or 0.4% to 5,612; the HSTECH rose 18 points or 0.5% to 3,726. The total daily turnover of the market was HK$90.04bn. Meituan stock price rose 0.4% today after internal media quoted Bytedance’s internal source that it had no plans to acquire Ele.me. The price of gold rose to the level of US$2,050, and the share prices of gold stocks Shandong Gold (1787) and Zijin (2899) rose by 1.8% and 3.0%. Macau's chief executive expects full-year gambling revenue to exceed 180 billion patacas, exceeding the target by 20%. Macau gambling stocks generally rose between 2.5% and 5.9%.

Source: KGI Asia Investment Strategy

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