Market Insight

Market Roundup

There was news that China is considering taking measures to stabilize the stock market. Hong Kong stocks rebounded significantly today. They opened 77 points higher at 15,038 points. Index rose 393 points or 2.6% to 15,354 points for the whole day. The H-Share Index rose 139 points or 2.8% to 15,354 points. 5,141 points; the Hang Seng Technology Index rose 112 points or 3.7% to 3,148 points. The total daily turnover of the market was HK$124 billion. After the domestic stock market plunged yesterday, China Resources Land (1109) and Longfor (960) rebounded by more than 8% today. Technology stocks also rebounded, with Alibaba (9988), Meituan (3690), Baidu (09888.HK) and Kuaishou (1024) rose 1.4% to 3.4%

Source: KGI Asia Investment Strategy

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