Market Roundup

Market Roundup

The Hang Seng Index opened higher by 49 points at 17,160 and market movement remain volatile today, eventually closed up 62 points or 0.4% at 17,174. The HSCEI rose 20 point or 0.3% at 6049. The Hang Seng Tech Index remained steady at 3,430. The total turnover for the day was HKD 70.8 billion. Amid escalating geopolitical tensions in the Middle East, oil prices rose last night, leading to a 1.6% increase in CNOOC’s (883) stock price. Additionally, Q Technology (1478) reported a significant year-on-year increase in net profit for the first half of the year, resulting in a 17.3% surge in its stock price. Chinese telecom stocks rebounded, with China Unicom (762) rose 3% and China Mobile (941) gaining over 1%. China Telecom (728) also saw an increase of nearly 2%

Source: KGI Investment Strategy

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