Market Insight

Market Roundup

Following the decline of US stocks, the Hang Seng Index opened 77 points lower. After opening at 17,578 points, it tested the August low and found support. It rose 213 points or 1.2% in half a day to 17,868 points; the H-Share Index rose 93 points or 1.5% to 6,192 points; The Hang Seng Technology Index rose 92 points, or 2.4%, to 3,941 points. The total half-day turnover of the market was HK$ 47.2 bn. Technology stocks led the gains, with Alibaba (9988) rising 2.4% to HK$84.65 and Tencent (700) rising 2.3% to HK$310. Automobile stocks also performed well, with BYD (1211), Li Auto (2015) and Xpeng (9868) all rose more than 2%.

Source: KGI Asia Investment Strategy

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