Market Roundup

Market Roundup

The market is looking forward to this week's Fed FOMC meeting, and with the suspension of Hong Kong Stock Connect during the China holiday, Hong Kong stock market were quiet today. After opening 116 points lower, the HSI once fell 192 points, then narrowed significantly and turned to gain in the afternoon. The index closed at 17,422, up 53 points or 0.3%. The HSCEI rose 18 points, or 0.3%, to close at 6,090; the HSTECH rose 17 points, or 0.5%, to close at 3,497. The total market turnover was only HK$47.99bn. There was news that Apple's iPhone 16 series first weekend bookings were 13% lower than the iPhone 15 series. Mobile phone parts stocks fell. Q TECH (01478) and AAC (2018) fell 4.3% and 3.9% respectively.

Source: KGI Investment Strategy

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