Market Roundup

Today, China released a series of economic data that generally exceeded market expectations. The Hang Seng Index opened 27 points higher at 20,106 points and expanded its gains throughout the day, closing up 725 points or 3.6% at 20,804 points. The China Enterprises Index rose 292 points or 4.1% to 7,472 points, and the Hang Seng Tech Index increased by 251 points or 5.7% to 4,600 points. The total market turnover for the day was HKD 259 billion. Major tech stocks closed higher in the afternoon, with Alibaba (9988) rising 2%, Meituan (3690) up 8.9%, and Tencent (700) gaining 4.4%.

Source: KGI Investment Strategy

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