Market Roundup

Hong Kong stocks fell under pressure in the first half of the day, dragged down by technology stocks. The Hang Seng Index opened 228 points lower, with losses extending to nearly 400 points in early trading, reaching a low of 26,360 points. The Hang Seng Index fell 304 points, or 1.14%, to 26,447 points. The H-share Index fell 114 points, or 1.2%, to 9,415 points. The Hang Seng Tech Index fell 158 points, or 2.45%, to 6,312 points. Market turnover for the first half of the day was HK$180.3 billion. Tech stocks fell across the board, with several brokerages reducing their margin positions in SMIC to zero. SMIC (981) fell 5.6%, dragging down chip stocks. Newly listed Zhida Technology (2650) soared 1.9 times to HK$190 on its debut.

Source: KGI Investment Products and Solutions Department

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