Market Roundup

Hong Kong stocks weakened in the morning session as several companies announced share placements. The Hang Seng Index opened 129 points lower and initially dropped 233 points to a low of 24,240 before narrowing its losses. It was down 149 points or 0.6%, closing at 24,325. The China Enterprises Index fell 55 points or 0.6% to 8,804, while the Hang Seng Tech Index dropped 14 points to 5,345. The total market turnover for the day was HKD 261.7 billion. Guotai Junan International (1788), which was recently approved by the Securities and Futures Commission to offer virtual asset trading services, turned lower in the afternoon, falling 4.3%. ZhongAn Online (6060) announced a share placement to raise HKD 3.9 billion, with its stock price dropping 6.6%.

Source: KGI Investment Products and Solutions Department

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