Market Insight

Market Roundup

After US stock market rose last Friday, Hong Kong market fluctuated upward today. The HSI opened 86 points higher and then expanded its gains. After rising 380 points, the upward trend slowed down significantly. It rose 95 points or 0.5% today to close at 17,746 points. The HSCEI rose 13 points, or 0.2%, to close at 6,282; the HSTECH fell 4 points, or 0.1%, to close at 3,713. The total daily turnover of the market was HK$163.42bn. AIA (1299)'s new business value in the 1Q24 hit a quarterly high, and the share buyback plan increased by US$2bn, the stock price rose 6.1%. Bank of Communications (3328)'s 1Q24 net profit rose 1.4%, and its stock price rose 3.5%.

Source: KGI Asia Investment Strategy

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