Market Insight
Market Roundup
Last night, the U.S. Nasdaq Composite Index and the S&P 500 Index closed lower. The Hang Seng Index opened 75 points higher at 17,080 points. Afterwards, the index performance was mixed, rising 16 points or 0.1% to 17,021 points at market close; the HSCEI Index fell 6 points or 0.1%, to 6,011 points; the Hang Seng Technology Index rose 22 points, or 0.7%, to 3,444 points. The total market turnover for the whole day was HK$104.7 billion. EastBuy (1797) top e-commerce influencer Dong Yuhui resigned, and the stock price fell 23% to HK$9.5. JD.com (9618) and Haier Smart Home (6690) benefited from the central government's launch of a home appliance trade-in subsidy policy, rose 3% and 6.1% respectively.
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.