Market Insight

Market Roundup

Biden said he would hold a press conference on the debt limit issue on Sunday, and U.S. stocks rose last night. However, the Hang Seng Index opened 192 points lower, opened at 19,535 points, extended its decline to 374 points at most, and closed at 19,451 points, down 277 points; The China Enterprises Index fell 122 points, or 1.8%, to 6,594 points; the Hang Seng Technology Index fell 95 points, or 2.4%, to 3,822 points. The market turnover was HK$ 95.2 bn. After Alibaba (9988) announced its quarterly results last night, its share price retreated 6% today to HK$82.45. China Mobile (941) rose 1.2% to HK$66.4.

Source: KGI Asia Investment Strategy

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