Market Roundup

The Hang Seng Index opened 19 points lower. Although it briefly rebounded in the morning session, it lacked support at higher levels and closed down 11 points or 0.04% at 26,552. The Hang Seng China Enterprises Index fell 11 points or 0.12% to 9,123. The Hang Seng Tech Index was weaker, falling 38 points or 0.66% to 5,712. The total turnover of the morning session was HK$129.8 billion, with continued inflows from Sorthbound funds. In terms of focus stocks, Pop Mart (9992) announced a share buyback to show confidence in its business prospects, and its share price surged 8.5% against the market trend, making it the best performing blue chip in the morning session. Ctrip (9961) rose 2.7% benefiting from positive tourism data. Conversely, WuXi AppTec (2359) was pressured down by 4.6%, and property stock New World Development (0017) also retreated significantly by about 10%.

Source: KGI Investment Products and Solutions Department

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