Market Insight

Market Roundup

Hong Kong stocks continued to be under pressure in the afternoon. The Hang Seng Index fell 60 points in the afternoon market, and the index continued to decline in the afternoon. The Hang Seng Index closed at 19,408 points, down 113 points or 0.6%. The Hang Seng Technology Index closed at 4,052 points, up 14 points or 0.4%. The H-Share Index fell 41 points, or 0.6%, to 6,576 points. Market turnover was HK$ 93.13 billion. Electric vehicle stock Li Auto (2015) sold 8,400 vehicles last week and hit a new record high. Its share price rose 5.4%. Together with other electric vehicle stocks, NIO (9866) and Xpeng (9868) rose 6.6% each and 4.5%. Today, Chinese technology stocks generally have different trends. Tencent (0700) rose 0.2%, while Alibaba (9988) and Meituan (3690) fell 0.6% and 0.5% respectively.

Source: KGI Asia Investment Strategy

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