Market Roundup

Market Roundup

Hong Kong stocks rose today after US regulators announced that they would guarantee deposits at Silicon Valley Bank and Signature Bank, and it was rumored that the Fed may postpone interest rate hikes in March. The HSI rose 436 points or 2.3% in mid-day, and then fell back slightly. The HSI closed at 19,695, up 376 points or 1.9%. The HSTECH closed at 3,891 points, up 109 points or 2.9%. The HSCEI rose 144 points, or 2.2%, to 6,590 points. Market turnover was HK$145.2bn. Traditional blue chips performed well today. AIA (1299) rebounded 3.6% to HK$84.5. HKEx (0388) rose 1.9% to HK$324.4. Bilibili’s (9626), included in Hong Kong Stock Connect, share price rose 10.7% today.

Source: KGI Asia Investment Strategy

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