Market Roundup

Hong Kong stock market rebounded after four consecutive days of gains, but then weakened. The HSI opened 27 points lower, briefly rose 207 points before turning down again, closing the morning session down 147 points or 0.5% at 26,852; the HSCEI fell 64 points or 0.7% to 9,251; and the HSTECH dropped 107 points or 1.8% to 5,800. Total market turnover was HK$163.9bn. Alibaba launched its AI Assistant on its platform, while Alibaba (9988) to fall 3%. Alibaba Health (0241) rebounded sharply by 8.5%. Ctrip was investigated by the State Administration for Market Regulation for suspected monopolistic practices, causing its ADR to decline 17% overnight, and Ctrip (9961) to fall 19.6%.

Source: KGI Investment Products and Solutions Department

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