Market Roundup

On the Hang Seng Index futures settlement day, the market opened 4 points lower but quickly rose by 288 points, reaching a high of 24,076 points. However, the upward momentum could not be sustained, and the market closed at 23,718 points, down 69 points or 0.3%. The Hang Seng Tech Index closed at 5,881 points, down 72 points or 1.2%. The China Enterprises Index fell 58 points or 0.7%, closing at 8,734 points. The total market turnover was HKD 406.465 billion. Today, consumer stocks performed well, with Nayuki Holdings (2150) surging over 21%, Haidilao (6862) rising 6.7%, and Cha Baidao (2555) up 3.3%. On the other hand, stocks that had previously seen significant gains were under pressure, with Xiaomi (1810) falling 5.7% after hitting a peak and China Unicom (762) dropping 5.1%.

Source: KGI Investment Strategy

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