Market Roundup

The U.S. stock market continues to perform well, but the Hong Kong stock market is under pressure. The Hang Seng Index opened 93 points lower at 20,334 points and expanded its decline throughout the day to close down 580 points or 2.84% at 19,847 points. The China Enterprises Index fell 228 points or 3.1% to 7,127 points, and the Hang Seng Tech Index dropped 194 points or 4.2% to 4,456 points. The total market turnover for the day was HKD 234.2 billion. Bitcoin once surged to USD 89,000, and the CSOP Bitcoin ETF (3066) rose nearly 9.7% to HKD 32.56. Today, the stock prices of China Hongqiao (1378) and Zijin Mining (2899) were under pressure, falling 8.7% and 4.4%, respectively.

Source: KGI Investment Strategy

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