Market Roundup

Hong Kong stocks weakened throughout the day, influenced by the decline in US stocks. The Hang Seng Index opened 156 points lower, and the decline widened to over 400 points in the afternoon, reaching 26,054 points before rebounding. It closed down 309 points or 1.2% at 26,149 points; the Hang Seng China Enterprises Index fell 99 points or 1.1% to 9,039 points; and the Hang Seng Tech Index fell 60 points or 1.0% to 5,678 points. The total turnover of the market was HK$268.26 billion. Chip stocks bucked the trend and rose, with Hua Hong (1347) rising over 3%, driven by strong semiconductor demand; SMIC (981) rose 0.3%, with the market optimistic about the chip supply chain; and Biren Technology (6082) rose 1.5%, with the AI chip boom continuing.

Source: KGI Investment Products and Solutions Department

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