Market Insight

Half Day Roundup

U.S. data showed that the housing market and consumption data turned hot, and U.S. stocks suffered setbacks. As for the Hong Kong stock market, the news that Alibaba (9988) intends to turn into a holding company, the Hang Seng Index opened 564 points higher at 20,349 point, and rose 378 points or 1.9% in half a day to 20,163 point; the China Enterprises Index rose 142 points or 2.1%. , at 6,872 point; the Hang Seng Technology Index rose 113 points, or 2.7%, to 4,257 points. The market's half-day turnover was HK$82.8 bn. Ali’s rallied, Alibaba (9988) and Ali Health (241) rose 13% and 5.7% respectively.

Source: KGI Asia Investment Strategy

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