Market Insight

Half Day Roundup

The US CPI was higher than market expectations, while the December China’s CPI remained negative. The Hang Seng Index opened 85 points lower in the early morning at 16,217 points, and rose 5 points to 16,307 points in half a day; the H-Share index rose 14 points or 0.3% to 5,508 points; the Hang Seng Technology Index fell 11 points or 0.3% to 3,492 points. The total half-day turnover of the market was HK$40.5 billion. Bitcoin concept stocks fell back, with BC Technology (863) fell 20%. Shareholders of Meitu (1357) sold shares at a discount, and the stock price fell 11.3%.

Source: KGI Asia Investment Strategy

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