Market Roundup

Hong Kong stocks continued to adjust today, dragged down by technology stocks, resulting in a subdued market. The Hang Seng Index opened 228 points lower and fluctuated downward throughout the day, closing at 26,290 points, down 462 points, or 1.73%. The H-share Index fell 171 points, or 1.8%, to 9,358 points. The Hang Seng Tech Index performed weakly, falling 211 points, or 3.27%, to 6,259 points. Total market turnover for the day was HK$333.7 billion. Technology stocks led the decline, with SMIC (981) falling approximately 7.1% after its brokerage firm adjusted its margin trading rate to zero. Baidu (9888) fell over 5%, dragged down by the overnight decline in US tech stocks. Kuaishou (1024) also fell over 5% due to selling pressure from tech stocks.

Source: KGI Investment Products and Solutions Department

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