Market Roundup

Despite China's three economic indicators falling short of consensus last month, Hong Kong stock market rallied, driven by tech and auto stocks. The HSI opened 79 points lower before rebounding 144 points, closing up 58 points, or 0.2%, at 26,446. The HSCEI rose 19 points, or 0.2%, to 9,384, and the HSTECH gained 54 points, or 0.9%, to 6,043. Total market turnover reached HK$290.2bn. Alibaba (9988) rose 2.3%, Bilibili (9626) rose 4.9%, NetEase (9999) rose 1.8%, and Xiaomi (1810) rose 1.9% and 1.8%, respectively. The release of a three-year plan for new energy storage development in mainland China has boosted direct investment of approximately RMB250bn. Battery stock CATL (3750) surged 7.4%.

Source: KGI Investment Products and Solutions Department

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