Market Insight

Market Roundup

U.S. stocks rose overnight, led by technology stocks. However, the Hang Seng Index opened 109 points lower at 16,628 points and ended the day down 207 points at 16,529 points; the Hang Seng Technology Index fell 65 points or 1.8% to 3,528 points; the H-Share Index fell 68 points or 1.1% to 5,780 points; The market turnover was HK$90.7 billion. The annual report of WuXi AppTec (2359) showed that the US business revenue accounted for 65%, which worried investors. The stock price fell 7.5% today to HK$39.5. Li Auto (2015) currently has only 4,000 orders for the new car it released in early March, far below its monthly sales target of 8,000 units. Its stock price fell nearly 8% today to HK$127.9.

Source: KGI Asia Investment Strategy

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