Market Insight

Half Day Roundup

Hong Kong stocks performed well today. The Hang Seng Index opened 168 points higher at 16,679 points. The half-day gain expanded to 271 points, or 1.6%, to 16,783 points; the HSCEI Index rose 108 points, or 1.8%, to 5,939 points; the Hang Seng Technology Index rose 95 points or 2.8%, at 3,431 points. The total half-day turnover of the market was HK$62.9 billion. Heavyweight technology stocks led the market upward, with Meituan (3690), Tencent (700) and Alibaba (3690) rising 6.3%, 3.1% and 2% respectively. Under the current favorable market conditions, automobile stocks are still weak, with BYD (1211) and Li Auto (2015) falling 2.3% and 3.1% respectively.

Source: KGI Asia Investment Strategy

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