Market Insight

Half Day Roundup

The market is worried about the economy prospect, and US stocks continue to fall. As for the last trading day of the Year of the Tiger, the Hang Seng Index opened 162 points higher today, at 21,812 points, and expanded to 218 points in half a day, at 21,868 points. Half-day market turnover was HK$43.2 bn, the State Enterprise Index rose 109 points to 7,421 point; the Hang Seng Technology Index rose 71 points to 4,520 point. Meituan (3690) stopped falling and rebounded 4%, Alibaba (9988) rose more than 2%, and Tencent (700) rose more than 1%. Two Oil stock release positive earning announcement, PetroChina (857) and CNOOC (883) rose over 4% respectively.

Source: KGI Asia Investment Strategy

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