Market Roundup

On the first trading day of December, the Hang Seng Index opened 19 points higher at 19,442 points. The index once turned negative but closed at 19,550 points, up 126 points or 0.6%. The Hang Seng Tech Index closed at 4,405 points, up 52 points or 1.2%. The China Enterprises Index rose 62 points or 0.9% to 7,009 points. The total market turnover for the day was HKD 146.1 billion. Despite Meituan's (3690) announced better-than-expected performance, concerns about expanding overseas losses led to a 0.8% drop in its stock price. The best-performing index constituents today were BYD Electronic (285) and Nongfu Spring (9633), with their stock prices rising by 11.3% and 8.3%, respectively.

Source: KGI Investment Strategy

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