Market Insight

Market Roundup

On the last trading day of July, during the weekend, several China departments said that they started to address measures following the Politburo meeting. The HSI opened 321 points higher and the upward trend could not be sustained. The HSI closed at 20,078 today, up 162 points or 0.8%. The HSTECH closed at 4,549, up 83 points or 1.9%. The HSCEI rose 90 points, or 1.3%, to 6,899. Market turnover was HK$182.56bn. Today, Haidilao (6862) released a positive profit warning today. The share price rose nearly 12.2% to HK$21.85. In addition, a strong market also drives high-beta stocks to perform well, such as JD.com (9618) and Meituan (3690), which rose 4.2% and 2.7%.

Source: KGI Asia Investment Strategy

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