Market Roundup

Hong Kong stocks lacked direction ahead of the US Thanksgiving holiday, resulting in a sideways trading day. The Hang Seng Index opened higher and briefly surpassed the 26,000 mark in the early session, but momentum weakened in the afternoon, closing at 25,945 points, up only 17 points or 0.1%. The Hang Seng China Enterprises Index rose 2 points to 9,164 points; the Hang Seng Tech Index, dragged down by technology stocks, fell 20 points or 0.4% to 5,598 points. Total market turnover was HK$204.7 billion. In terms of individual stocks, Pop Mart (9992) was favored by investors, surging 6.8% throughout the day. Xiaomi (1810) provided strong support to the market, rising 2.5%. Conversely, Alibaba-related stocks were under pressure, with Alibaba (9988) falling 2.7% and Alibaba Health (0241) dropping over 5%, making it the worst-performing blue chip.

Source: KGI Investment Products and Solutions Department

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