Market Roundup

Hong Kong stock market rose as China and the U.S reached a preliminary agreement on several important trade issues. The HSI opened 335 points higher before retreating, ending the day up 267 points, or 1.1%, at 26,427. The HSCEI rose 88 points, or 0.9%, to 9,452, while the HSTECH rose 89 points, or 1.5%, to 6,149. Market turnover totaled HK$156.5bn. Tencent (0700), whose flagship game "Honor of Kings" set a new record for daily active users this year, saw its share price rise 2.4%. The CPCA reported a decrease in passenger car inventory pressure in mainland China last month and predicted strong total sales for manufacturers in the coming months. Auto stocks BYD (1211), NIO (9866), and Xpeng (9868) rose 1.4% to 1.6%.

Source: KGI Investment Products and Solutions Department

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