Market Insight

Half Day Roundup

Hong Kong stock market rose first and then fell today. After opening 38 points higher, the HSI rose 127 points, but turned down 97 points, or 0.6%, to 16,984 at mid-day; the HSCEI fell 12 points, or 0.2%, to 5,920; the HSTECH fell 43 points or 1.2%, at 3,612. The total mid-day turnover of the market was HK$63.41bn. AIA (1299) last year's performance was in line with consensus, but it fell 4.5% at mid-day. XPEV (9868)'s two co-founders exited top management, and the stock price fell 5.2%. Hangzhou announced that the purchase of second-hand housing in the city is exempted from the review of qualifications. Chinese real estate stocks CIFI (0884) and Longfor (0960) rose 9.4% and 3.7% respectively.

Source: KGI Asia Investment Strategy

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