Market Insight

Half Day Roundup

US stock market were dragged down by rising debt interest rates yesterday, while Hong Kong market followed today. The HSI opened 4 points lower and then expanded its losses, falling 125 points or 0.7% in mid-day to 16,806; the HSCEI fell 46 points or 0.8% to 5,913; the HSETCH fell 43 points or 1.2% to 3,499. The total mid-day market turnover was HK$52.54bn. Tesla's (TSLA.US) first-quarter delivery volume was lower than consensus. New energy vehicle stocks generally fell today, with BYD (1211) and Li Auto (2015) falling 2.0% and 3.3% respectively. Tencent (0700) continued to be reduced by South African major shareholder Naspers, with the former's share price still rising 0.1% at mid-day.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.