Market Roundup

Hong Kong stock market continued to pull back from highs today. The HSI opened 227 points lower and the decline once widened to 508 points. It fell 316 points or 1.4% at mid-day to 22,627. The HSCEI fell 113 points or 1.3% to 8,349; and the HSTECH fell 126 points or 2.2% to 5,545. The total market turnover for mid-day was HK$169.45bn. Meituan (3690) will pay social security for full-time and stable part-time riders; share price fell 6.1%. Tencent (0700) reportedly integrated its four major product lines to promote its AI product, and Tencent fell 1.9%.

Source: KGI Investment Strategy

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