Market Insight

Half Day Roundup

The Hang Seng Index opened 43 points lower at 17,481 points. The half-day decline expanded to 80 points, or 0.46%, to 17,443 points; the HSCEI Index fell 36 points, or 0.6%, to 6,247 points; the Hang Seng Technology Index rose 3 points, or 0.1% reported at 3,570 points. The total half-day turnover of the market was HK$48.9 billion. There are reports that Apple has raised its IPHONE 16 stocking target to about 90 million units, and related concept stocks such as Sunny Optical (2382) rose 3.6%. The US chip stocks rallied has led to the rise of Chinese chips performance today. Semiconductor Manufacturing International Corporation (981) and Hua Hong Semiconductor (1347) rose 2.5% and 5.9% respectively.

Source: KGI Asia Investment Strategy

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