Market Insight

Market Roundup

Hong Kong stock market fell in the morning as the market waited to see the upcoming the U.S. PCE figure. The HSI opened 26 points lower and then expanded its losses, falling 182 points or 1.0% today to close at 17,692; the HSCEI fell 80 points or 1.3% to close at 6,225; the HSTECH fell 55 points or 1.6% to close at 3,445. The total market trading turnover was HK$93.93bn today. Anta (2020) earned 63% in 1H24 and the interim dividend increased by 44% together with HK$10bn share buyback. The stock price rose 4.5%. Alibaba (9988)'s dual primary listing on the HKEX took effect today, and its stock price fell 1.1% today. JD.com (9618) announced a US$5bn new share repurchase plan, and its stock price rose 1.8%.

Source: KGI Investment Strategy

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