Market Insight

Half Day Roundup

The Hang Seng Index opened 78 points lower at 17,614 points and fell 115 points or 0.6% in half a day to 17,577 points; the HSCEI Index fell 58 points or 0.9% to 6,168 points; the Hang Seng Technology Index fell 24 points or 0.7% to 3,421 points. The total half-day turnover of the market was HK$57.6 billion. Meituan (3690) announced results that were better than market expectations, and its stock price rose 9.5%. Mengniu Dairy (2319)'s gross profit margin increased and announced an increased in buyback plan, and its stock price rose 9.8%. The target price of Shenzhou (2313) was cut, and the stock price fell 6.6%. Li Auto (2015) lost nearly half its profit in the second quarter, and its stock price fell 10.2%.

Source: KGI Investment Strategy

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