Market Insight

Half Day Roundup

Global investment sentiment turned conservative, with all three major U.S. indexes closing down. The Hang Seng Index opened 232 points lower, at 16,367 points, and fell 321 points, or 1.9%, in half a day, to 16,280 points; the HSCEI fell 107 points, or 1.8%, to 5,749 points; the Hang Seng Technology Index fell 93 points, or 2.7%, to 3,349 points . The total half-day turnover of the market was HK$58 billion. Today's retail data showed that automobile sales fell year-on-year and the recent trend of automobile stocks has been weak. NIO (9866) and Li Auto (2015) fell 9.9% and 4.8% respectively. AIA (1299) continued to be weak, falling another 3.2% to HK$45.75.

Source: KGI Asia Investment Strategy

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