Market Roundup

Market expectations of a more aggressive Federal Reserve rate cut boosted both overseas and Hong Kong stock market. The HSI opened 104 points higher and extended gains, closing up 262 points, or 1%, at 26,200. The H-share Index rose 85 points, or 0.93%, to 9,328, while the HSTECH rose 73 points, or 1.3%, to 5,902. Total market turnover reached HK$288.2bn. Alibaba (9988) rose 0.6% after its focus on offline shopping boosted its ranking on the "Amap shopping". Meituan (3690) rebounded 2.1%, while e-commerce rival JD.com (9618) rose 3.6%.

Source: KGI Investment Products and Solutions Department

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