Market Roundup

Hong Kong stocks continued their downward trend today, marking their fourth consecutive day of losses. The HSI opened 24 points higher and rose as much as 115 points before turning negative again, closing down 117 points or 0.5% at 25,812; the HSCEI fell 32 points or 0.4% to 9,142; and the HSTECH dropped 55 points or 1% to 5,590. Total turnover was HK$112.6bn. Baidu (9888) disclosed its AI business revenue in its quarterly results, while the market continued to focus on its advertising revenue, causing its share price to fall 0.8%. Xiaomi (1810) saw its last quarter's EBIT fall short of some brokerage expectations and its target price was lowered, resulting in a 4.3% drop in its share price.

Source: KGI Investment Products and Solutions Department

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