Market Roundup

Hong Kong stock market opened higher following gains in overseas markets. The HSI opened 422 points higher and fluctuated, closing up 385 points or 1.5% at 26,945; the HSCEI rose 111 points or 1.2% to 9,142; and the HSTECH gained 55 points or 1% to 5,401. Total turnover was HK$136.3bn. Insurers rose, with China Life (2628) seeing further share purchases from Ping An Insurance (2318), resulting in gains of 4.5% and 4.1% for both companies. China Taiping (0966) and China Pacific Insurance (2601) rose 4.1% and 3.6% respectively. Kuaishou (1024) was fined nearly RMB120mn by the Beijing Cyberspace Administration, causing its share price to fall 4.3%.

Source: KGI Investment Products and Solutions Department

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