Market Insight

Market Roundup

On the third trading day of the Year of the Dragon, the market continued its momentum yesterday. The Hang Seng Index opened 63 points higher, at 16,007 points, and extended its gain throughout the day to 395 points, or 2.5%, to 16,340 points. The HSCEI rose 148 points, or 2.7%, to 5,559 points; the Hang Seng Technology Index rose 120 points, or 3.7%, to 3,343 points. The market turnover for the whole day was HK$70.6 billion. WuXi rebounded, with WuXi Biologics (2269) rising more than 12%, WuXi AppTec (2359) rising 4.5%, and WuXi XDC (2268) rising 11.8%. Major technology stocks also helped drive the market higher, with Meituan (3690) rising 4.6% and Alibaba (9988) rising 2.4%.

Source: KGI Asia Investment Strategy

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