Market Roundup

Market Roundup

The market is waiting to see Federal Chairman Powell's speech on the rate cut roadmap this week. Hong Kong stock market fell in the morning market, dragged down by JD.com (9618). The HSI opened 197 points lower and then narrowed its losses slightly, falling 120 points or 0.7% today to close at 17,391; the HSCEI fell 53 points or 0.9% to close at 6,141; the HSTECH fell 63 points or 1.8% to close at 3,434. The total market daily turnover was HK$93.83bn. It was rumored that Wal-Mart would sell shares in JD.com for up to US$3.74bn, and JD.com’s share price fell 8.7%. The market is worried that Kuaishou (1024)'s e-commerce merchandise transaction growth forecast is lower than the company's guidance, and its stock price fell 9.9% today. Sunny Optical (2382)'s interim net profit increased by 1.47 times and its gross profit margin increased. The stock price rose 8.4%.

Source: KGI Investment Strategy

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