Market Roundup

Market Roundup

The United States raised interest rates by 0.25% as expected. The Hang Seng Index opened 137 points higher at 19,502 points, and extended its half-day gain to 264 points or 1.4% to 19,629 points; The China Enterprises Index rose 129 points or 2% to 6,678 points; the Hang Seng Technology Index rose 126 points or 3% to 4,344 points. The market's half-day turnover was HK$ 65 bn. Volkswagen invested into Xpeng (9868), and its stock price soared 33.8% today to HK$80.95. Other EV stocks such as NIO (9866) and Li-Auto (2015) EV stocks were also driven by the momentum, and their stock prices rose 11.8% and 4.2% respectively.

Source: KGI Asia Investment Strategy

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