Market Insight

Market Roundup

Risk aversion in the global market has increased. The Nikkei Index fell 2.6% and Taiwan stocks fell 3.8%. The Hang Seng Index opened 140 points lower this morning, opening at 16,246 points. It fell 162 points throughout the day and closed at 16,224 points; the HSCEI Index fell 57 points or 1%, to 5,746 points; the Hang Seng Technology Index fell 79 points, or 2.3%, to 3,278 points. The total daily turnover of the market was HK$106.1 billion. Li Auto (2015) announced that the price of its L6 model starts at RMB$249,800, and its stock price fell 7.4% to HK$106.3. Oil stocks performed well as geopolitics heated up, with CNOOC (883) and PetroChina (857) rising 1.2% and 2.3% respectively.

Source: KGI Asia Investment Strategy

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