Market Roundup

Reports indicate that the US Democratic Party is considering agreeing to a temporary funding agreement, potentially ending the federal government shutdown, which boosted US stock futures. The HSI opened 77 points higher and extended its gains, rising 161 points or 0.6% to 26,403 points at midday; the HSCEI rose 77 points or 0.8% to 9,345; and the HSTECH rose 7 points or 0.1% to 5,844. Total market turnover was HK$114.08bn. In the first week of the new Hainan offshore duty-free policy, duty-free shopping in Hainan Province reached RMB 506mn, a year-on-year increase of 35%, with China Duty Free Group (1880) rising 13.2%. Other consumer and domestic demand stocks also generally rose, with Pop Mart (9992) and Damai Entertainment (1060) rising over 6%.

Source: KGI Investment Products and Solutions Department

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