Market Insight

Market Roundup

Hong Kong stock market performed well in the morning, driven by technology stocks, rising for five consecutive trading days. The HSI opened 51 points higher and then expanded its gains, closing at 17,651, up 366 points or 2.1%. The HSTECH reported at 3,718, up 163 points or 4.6%. The HSCEI rose 149 points, or 2.4%, to 6,269. The market turnover was HK$157.24bn. Chinese technology stocks generally rose, with Tencent (0700), Alibaba (9988), Meituan (3690) and other stocks rising between 2.7% and 5.8%. Several blue-chip stocks hit new highs today, including China Mobile (0941), which rose 0.4% and its share price hit a three-year high; Ctrip (9961), which rose 3.1% and its share price hit a record high.

Source: KGI Asia Investment Strategy

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