Market Insight

Market Roundup

PDD closed sharply lower last night, and the China Golden Dragon Index suffered a setback. The Hang Seng Index opened 134 points lower, at 17,664 points, and rose 75 points, or 0.4%, to 17,874 points throughout the day; the HSCEI Index rose 27 points, or 0.4%, to 6,306 points; the Hang Seng Technology Index fell 1 point, or 0.05%, to 3,501 points. The total daily turnover of the market was HK$91.923 billion. Affected by PDD performance last night, e-commerce stocks were generally under pressure today, with Alibaba (9988) and JD.com (9618) falling 4% and 3.7% respectively. On the other hand, Ctrip (9961)'s performance was better than expected, and its stock price rose sharply by 9%.

Source: KGI Investment Strategy

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