Market Insight

Market Roundup

The Hang Seng Index opened 162 points lower opening at 19,474 points. The decline widened to 415 points to 19,221 points; the Hang Seng Technology Index closed at 3,981 points, down 155 points or 3.7%. The HSCEI Index fell 144 points, or 2%, to 6,821 points. The market turnover was HK$150.6 billion. EV stocks were under significant pressure today. Li Auto (2015)'s performance guidance was lower than market expectations, and its stock price plummeted more than 19%. Xpeng Motors (9868) fell 10.5%, and NIO (9866) fell 6%. Major technology stocks also under pressure, with Tencent (700) stock price falling nearly 3% to HK$383.

Source: KGI Asia Investment Strategy

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