Market Roundup

Hong Kong stocks continued their decline this morning. The Hang Seng Index opened 212 points lower and then fell nearly 290 points to a low of 26,195 before narrowing its losses to close at 26,313, down 171 points, or 0.65%. The China Enterprises Index fell 57 points, or 0.61%, to 9,387, while the Hang Seng Tech Index dropped 66 points, or 1.04%, to 6,313. Market turnover totaled RMB 165.5 billion. Tech stocks were under pressure, dragging down the market. Xiaomi Group (1810) fell over 5% at one point, following profit-taking after the announcement of the Xiaomi 17 series flagship phone yesterday. Alibaba (9988) and JD.com (9618) also fell by approximately 1.6% to 2%. Horizon Robotics (9660), which plans to raise over RMB 6.3 billion through a rights issue at a discount of approximately 6%, saw its share price fall nearly 6% in the first half of the day. On the contrary, some domestic demand stocks performed well, with Haidilao (6862) rising 3.8% and Pop Mart (9992) rising 3.4%. Among new energy vehicle stocks, Xpeng Motors (9868) announced a patent for a humanoid robot, and its share price rose by more than 6%.

Source: KGI Investment Products and Solutions Department

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