Market Roundup

Half Day Roundup

Some U.S. officials said that interest rates may not need to be cut this year, and the three major U.S. stock indexes closed lower. The Hang Seng Index opened 63 points higher in the early morning at 16,788 points, the index weakened and closed down 119 points at half-day close at 16,606 point; the H-Share Index fell 65 points or 1.1% to 5,810 points; the Hang Seng Technology Index fell 44 points or 1.3 %, reported 3,417 points. The total half-day turnover of the market was HK$42.2 billion. WuXi continued to be under pressure, with WuXi AppTec (2359) and WuXi Biologics (2269) falling 5.8% and 4.5% respectively.

Source: KGI Asia Investment Strategy

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