Market Roundup

The Hang Seng Index (HSI) opened 204 points lower at 23,249 points. It then fluctuated downward throughout the day, but the loss narrowed to 108 points or 0.46% by the close, ending at 23,345 points. The China Enterprises Index (CEI) dropped 41 points or 0.5% to 8,468 points. The Hang Seng Tech Index fell 16 points or 0.3%, closing at 5,281 points. Total market turnover for the day was HKD 190.7 billion. Alibaba (9988) reported mixed earnings results, and its stock price fell 4.2%. NetEase (9999) posted better-than-expected Q1 results, with its stock surging 13%, hitting a one-year high.

Source: KGI Investment Strategy Department

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