Market Insight

Half Day Roundup

The U.S. market is waiting to see the FOMC Meeting Minutes. D&J index fell nearly 700 points or 2.1% yesterday. Hong Kong stocks fluctuated today. HSI fell 184 points in the morning and once fell as low as 20,344. After that, it began to regain the lost. HSI rose 5 points or 0.03% in mid-day to 20,534. While HSCEI fell 44 points or 0.65% to 6,880, HSTECH fell 36 points or 0.9% to 4,121. Mid-day market turnover totaled HK$67.7bn. HSBC (0005) announced yesterday that its 4Q22 results beat market consensus, and its share price rose 4.9% to HK$60.45 today. Chinese technology sector weakened today, Tencent (0700) and Alibaba (9988) fell 0.5% and 1.7% respectively.

Source: KGI Asia Investment Strategy

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