Market Insight

Market Roundup

After the U.S. regional banking crisis in is expected to be resolved, global stock markets got rebound today. The HSI rose 497 points in the morning and reached day high at 19,745. Afterwards, the gains narrowed, the HSI closed at 19,539, up 291 points or 1.5%. The HSTECH closed at 3,866, up 75 points or 2.0%. The HSCEI rose 120 points, or 1.9%, to 6,559. Market turnover was 108.1 bn. Chinese technology stocks generally rebounded, with heavyweights Tencent (0700) and Alibaba (9988) rising 0.9% and 2.6% respectively. Baidu (9888) released its AI with “Chat-CPT” concept tomorrow, and its stock price rose 3.6%.

Source: KGI Asia Investment Strategy

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