Market Roundup

After a late rally in the Hong Kong stock market yesterday, the index retreated today. The Hang Seng Index opened 55 points lower and then extended its losses, closing down 441 points or 1.9% at 23,108. The China Enterprises Index dropped 173 points or 2.0% to 8,386, while the Hang Seng Tech Index fell 177 points or 3.2% to 5,269. Total market turnover for the day was HKD 219.8 billion. Despite being low-cost goods, imports to the U.S. are still subject to a 54% tariff. Alibaba (9988) dropped 3.8%.

Source: KGI Investment Strategy Department

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