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

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