Market Insight

Half Day Roundup

The Hang Seng Index opened 120 points lower at 17,521 points. The half-day decline narrowed to 71 points, or 0.4%, to 17,569 points; the HSCEI Index fell 25 points, or 0.4%, to 6,199 points; Hang Seng Technology The index fell 53 points, or 1.5%, to 3,455 points. The total half-day turnover of the market was HK$41.6 billion. NetEase (9999) fell 12.8% after adjusted net profit expectations were lower than expected. Alibaba (9988) announced that it will become a primary listing on the Hong Kong Stock Exchange on August 28, and its stock price rose 0.4%.

Source: KGI Investment Strategy

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