Market Insight

Market Roundup

U.S. stocks closed high last night, but Hong Kong stocks remained weak. HSI opened 78 points lower in the morning, at 16,551 points, and the half-day decline slightly expanded to 101 points, at 16,527 points. The H-Share Index fell 32 points, or 0.6%, to 5,602 points. Hang Seng Technology index fell 18 points, or 0.5%, to 3,712 points. The half-day market turnover was HK$41.9 bn. Today's major technology stock Meituan (3690) fell 6.1% to HK$78.1 as the market expected that it would need to adopt an aggressive investment strategy to maintain business growth. The best performed blue-chip stock was Country Garden Services (6098), whose share price fell 9.8% to HK$6.24.

Source: KGI Asia Investment Strategy

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