Market Roundup

It was reported that US President-elect Trump hopes to visit China within 100 days. The market is looking forward to the easing of China-US relations while Hong Kong stock market rose today. The HSI opened 220 points higher and then extended its gains, rising 341 points or 1.7% to close at 19,925 today; the HSCEI rose 126 points or 1.8% to close at 7,235; and the HSTECH rose 116 points or 2.6% to close at 4,595. The daily market turnover was HK$161.38bn today. Many major banks are optimistic about JD.com’s (9618) 4Q24 performance, and JD.com’s share price rose 7.3%. China announced the details of its 2025 car trade-in policy. Auto stocks generally rose, with BYD (1211) and Li Auto (2015) rising 4.2% and 3.0% respectively.

Source: KGI Investment Strategy

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