Market Roundup

Hong Kong stock market performed well today. The HSI opened 165 points higher and once rose above 25,000 level, setting a new high in early 2022. The gains narrowed and the index closed up 69 points or 0.3% at 24,895 at mid-day. The HSCEI closed at 8,999 at mid-day, up 12 points or 0.1%. The HSTECH rose 17 points or 0.32% to 5,556. The Hong Kong stock market traded HK$151.4bn at mid-day. The mainland government intervened in the "involution" of e-commerce platforms. The State Administration for Market Regulation summoned Meituan (3690), Alibaba-W (9988)'s Ele.me and JD.com (9618). Their share prices rose between 1.8% and 2.7%. The mainland further regulated the competition order of the new energy vehicle industry. The central guidance group urged leading new energy vehicle companies to compete reasonably. BYD (1211) rose slightly by 0.1% at mid-day.

Source: KGI Investment Products and Solutions Department

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