Market Insight

Half Day Roundup

Hong Kong stock market performed well in the morning market, driven by technology stocks, rising for five consecutive trading days. The HSI opened 51 points higher and then expanded its gains, rising 342 points or 2% at mid-day to 17,626; the HSCEI rose 147 points or 2.4% to 6,267; the HSTECH rose 129 points or 3.7% to 3,684. The total mid-day turnover of the market was HK$72.40bn. Chinese technology stocks generally rose, with individual stocks such as Tencent (0700), Alibaba (9988) and Meituan (3690) rising between 2.4% and 4.8%. CNOOC (0883) first-quarter net profit rose 24%, and its stock price rose 4.6%.

Source: KGI Asia Investment Strategy

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