Market Roundup

Hong Kong stock market rebounded after four consecutive days of gains, but then weakened. The HSI opened 27 points lower, briefly rose 207 points before turning down again, closing down 76 points or 0.3% at 26,923. The HSCEI fell 48 points or 0.5% to close at 9,266, and the HSTECH fell 79 points or 1.4% to close at 5,828. Total turnover for the day was HK$290.5bn. Alibaba launched its AI Assistant on its platform, while Alibaba (09988) to retreat 2.6%; Alibaba Health (0241) rebounded sharply by 7.8%. Ctrip is under investigation by the State Administration for Market Regulation for suspected monopolistic practices, causing its ADR to fall 17% overnight, and Ctrip (9961) to drop 19.2% for the day.

Source: KGI Investment Products and Solutions Department

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