Market Insight

Market Roundup

The Hong Kong stock market failed to extend its rally. The Hang Seng Index opened lower this morning by 61 points to 19,355 points, then extended its half-day decline to 268 points or 1.4% to close at 19,147 points. The Hang Seng Technology Index fell 59 points, or 1.4%, to 4,015 points. HSCEI fell 117 points or 1.8% to 6,496 points. Market turnover was HK$ 42.7 bn. Share price of SenseTime (20) continued to suffer today, down 4%. For sports goods stocks, Li Ning (2331) closed at HK$ 41.75, down 5.1%. Heavy weighted technology stocks, Tencent (700), Alibaba (9988) and Meituan (3690) fell 1.1%, 1.4% and 2.8% respectively.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.