Market Insight

Market Roundup

Hong Kong stocks continued yesterday's selling pressure today. The Hang Seng Index opened 121 points higher at 22,190 point, closing at 21,842 point, fell 227 points. The China Enterprises Index fell 71 points or 0.9% to 7,424 point; the Hang Seng Composite Index fell 37 points or 0.8% to 4,542 point. The market turnover was HK$173.8 bn. BYD (01211) rose 2.3% against the market downturn to close at HK$245 after position earning alert. Tencent (700) and Alibaba (9988) both fell more than 1%. On the other hand, WuXi AppTec (2359) is expected to increase its net profit by 72.9% year-on-year in 2022, but its share price still fell 2.1% to HK$101.5.

Source: KGI Asia Investment Strategy

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