Market Insight

Market Roundup

Hong Kong stocks fell in morning trading. The Hang Seng Index opened 78 points lower, at 17,614 points, and rose 94 points, or 0.5%, to 17,786 points throughout the day; the HSCEI Index rose 21 points, or 0.3%, to 6,247 points; the Hang Seng Technology Index rose 16 points, or 0.5%, to 3,461 points point, the total market turnover for the day was HK$108.1 billion. Meituan (3690) announced results that were better than market expectations, and its stock price rose 12.5%. Mengniu Dairy(2319)'s gross profit margin increased and it increased its buyback plan, and its share price rose 9.6%. The target price of Shenzhou (2313) was cut, and the stock price fell 3.4%. Li Auto (2015) lost nearly half its profit in the second quarter, and its stock price fell 9.7%.

Source: KGI Investment Strategy

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