Market Insight

Market Roundup

Market is waiting to see the FOMC result, Hong Kong stocks fluctuated today. After opening 29 points higher, the HSI fell 99 points and then bottomed out. The HSI closed at 16,543 today, up 13 points or 0.1%. The HSTECH reported at 3,551, up 22 points or 0.7%. The HSCEI rose 23 points, or 0.4%, to 5,803. The market turnover was HK$85.34bn. Sporting goods stock Li Ning (2331) recorded its net profit fall by 22% last year and its stock price rose by 5.7% today. Xiaomi (1810)'s adjusted net profit in 4Q23 rose 2.3x, beating consensus, but its stock price fell 2.4%.

Source: KGI Asia Investment Strategy

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