Market Insight

Half Day Roundup

The Federal Reserve kept policy rates unchanged, while Hong Kong stocks started well in February. The Hang Seng Index opened 38 points higher at 15,522 points, the index once turned down 52 points, but regain momentum, rising 209 points to 15,694 points. The H-Share Index rose 75 points, or 1.5%, to 5,270 points; the Hang Seng Technology Index rose 95 points, or 3.2%, to 3,101 points. The total half-day turnover of the market was HK$54.6 billion. WuXi XDC (2268) expects its net profit to increase by 80% last year, and its stock price rose 10.1%. WuXi Biologics (2269) and WuXi AppTec (2359) also rebounded 5.6% and 4.6%. The best-performing sector today was consumption related stocks, with Li Ning (2331) and Haidilao (6862) both rose 6.8%.

Source: KGI Asia Investment Strategy

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