Market Insight

Half Day Roundup

Global market risk aversion sentiment increased. The Nikkei index fell 3%, and Taiwan stocks fell 4.7%. The Hang Seng Index opened 140 points lower this morning, opening at 16,246 points. The decline expanded to 202 points. It closed at 16,184 points for the first half of trading session; the HSCEI Index fell 69 points, or 1.2%, to 5,734 points; the Hang Seng Technology Index fell 87 points, or 2.6%, to 3,269 points. The total half-day turnover of the market was HK$63.1 billion. Li Auto (2015) announced that the price of its L6 model starts at RMB$249,800, and its stock price fell 7.3% to HK$106.4. Oil stocks performed well as geopolitics heated up, with CNOOC (883) and PetroChina (857) rising 2.1% and 2.4% respectively.

Source: KGI Asia Investment Strategy

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