Market Roundup

Market consensus for rate cut next month led to a three-day winning streak for the DJIA, and Hong Kong stock market followed suit. The HSI opened 152 points higher but gains narrowed slightly, closing up 118 points or 0.5% at 26,013; the HSCEI rose 45 points or 0.5% to 9,203; and the HSTECH gained 28 points or 0.5% to close at 5,640. Total turnover was HK$113.95bn. Alibaba (9988) reported adjusted EBITA in line with consensus, but management anticipates slower CMR growth in e-commerce next quarter, causing its share price to fall 1.1% today. Pony.ai (2026), a smart mobility stock, reported a non-GAAP loss widening to US$5.47mn for the quarter, but profits from its city-level bike-sharing service turned positive, causing its share price to rise 4.3%.

Source: KGI Investment Products and Solutions Department

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