Market Insight

Market Roundup

The DXY index continued to rise, with the USD TO CNY at 7.32, dragging down the Hong Kong stock market's decline today. The Hang Seng Index opened 13 points lower and then extended its losses, falling 248 points or 1.34% to 18,202 points for the day. The H-Share Index fell 89 points or 1.4% to 6,314 point. The Hang Seng Technology Index fell 85 points or 2% to 4,091 point. The market turnover was HK$86.8 bn. U.S. Congressman states SMIC (981) violated sanctions, and the market was worried that the United States may further restrict SMIC. The stock price fell 7.6% to HK$19.82. In addition, oil prices continued to rise, PetroChina (857) and CNOOC (883) bucked the trend and rose 2.9% and 0.5% respectively.

Source: KGI Asia Investment Strategy

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