Market Roundup

Hong Kong stocks weakened significantly in the morning session, pressured by widespread weakness in technology stocks. The Hang Seng Index opened 412 points lower, falling below the 27,000 mark, and closed down 340 points or 1.26% at 26,732. The Hang Seng China Enterprises Index fell 132 points or 1.38% to 9,466, and the Hang Seng Tech Index dropped 2.2% to 5,849. Total turnover for the morning session was HK$125 billion. Major technology stocks generally declined, with Baidu (9888) falling 7.21%, becoming the biggest loser among blue chips. JD.com (9618) also fell nearly 6%, and Alibaba (9988) fell over 3%. Conversely, JD Health (6618) bucked the trend, rising 6.82% to become the biggest gainer among blue chips, thanks to better-than-expected third-quarter results, with net profit nearly doubling year-on-year to RMB 1.84 billion. The innovative drug sector performed well, and the hydrogen energy sector also rose against the trend, benefiting from favorable national energy policies.

Source: KGI Investment Products and Solutions Department

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