Market Roundup

The U.S. stock market continues to perform well, but the Hong Kong stock market is under pressure. The Hang Seng Index opened 93 points lower at 20,334 points, and by midday, the decline expanded to 353 points or 1.73%, closing at 20,074 points. The China Enterprises Index fell 135 points or 1.8%, closing at 7,219 points. The Hang Seng Tech Index dropped 104 points or 2.2%, closing at 4,547 points. The total market turnover for the half-day was HKD 102.3 billion. Bitcoin once surged to USD 89,000, and the CSOP Bitcoin ETF (3066) rose nearly 8.5%, closing at HKD 32.18. Today, the stock prices of China Hongqiao (1378) and Zijin Mining (2899) were under pressure, falling by 7% and 3.7%, respectively.

Source: KGI Investment Strategy

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