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
The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.