Market Insight

Market Roundup

The debt ceiling negotiations will be resumed today, the Hang Seng Index opened 29 points higher at 19,479 points, and the half-day increase expanded to 252 points to 19,703 points; the China Enterprises Index rose 104 points or 1.6% to 6,698 points; the Hang Seng Technology Index rose 92 points points, or 2.4%, to 3,913. The market's half-day turnover was HK$53.7 bn. Power stocks performed well, China Longyuan Power (916) and China Resources Power (836) rose 7.6% and 4.7%. Kuaishou (1024) rose 6.3% to HK$53.2 before the results announcement. Domestic consumption stocks also rebounded today. Haidilao (6862) and Jiumaojiu (9922) rose 3.2% and 2.3%.

Source: KGI Asia Investment Strategy

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