Market Insight

Half Day Roundup

The Federal Reserve raised interest rates by 0.25%, and the market expects that the rate hike is coming to an end. The Hang Seng Index opened 204 points higher at 22,276 point, then narrowed its gains to 90 points to 22,162 point. The H-Share Index rose 35 points, or 0.5%, to 7,596 point; the Hang Seng Technology Index rose 82 points, or 1.7%, to 4,777 point. The market's half-day turnover totaled HK$76.5 bn. Baidu (9888) rose another nearly 7%. Tencent (700) rose more than 1%, Alibaba (9988) rose 0.5%, but Meituan (3690) fell 0.2%.

Source: KGI Asia Investment Strategy

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