Market Roundup

After a late rally yesterday, the Hong Kong stock market gave back gains in the morning session today. The Hang Seng Index (HSI) opened 55 points lower and extended its losses, dropping as much as 420 points to a low of 23,129. By midday, it was down 392 points or 1.7%, at 23,156. The China Enterprises Index (CEI) fell 151 points or 1.8%, to 8,407. The Hang Seng Tech Index dropped 162 points or 3%, to 5,284. Total market turnover for the half-day session was HKD 133.242 billion. Alibaba (9988) fell 3.6% after news that “De Minimis” imported into the U.S. will still be subject to a 54% tariff.

Source: KGI Investment Strategy Department

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