Market Roundup

Hong Kong stocks saw strong gains on the first day of October, continuing the upward momentum of the third quarter. The Hang Seng Index opened 62 points higher and continued its upward trend, rising over 500 points to break through 27,300 points before closing up 431 points, or 1.61%, at 27,287 points. The H-share Index rose 169 points, or 1.8%, to 9,724 points, while the Hang Seng Tech Index rose 217 points, or 3.4%, to 6,683 points. Total trading volume for the day was HK$ 222.4 billion. Chip stocks led the gains, with SMIC (981) soaring 12.7% to a record high of HK$89.65, boosted by hopes of a "super cycle" in the memory chip market and Goldman Sachs raising its target price to HK$95. Xinyi Solar (968) rose 9.9%, while Kuaishou (1024) climbed 8.6%.

Source: KGI Investment Products and Solutions Department

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