Market Roundup

The Hang Seng Index opened 130 points higher this morning but then turned lower, closing down 74 points or 0.29% at 25,985. The Hang Seng China Enterprises Index fell 27 points or 0.31% to 8,717. The Hang Seng Tech Index was weaker, falling 50 points or 1.02% to 4,938. Total turnover for the morning session reached HK$187.5 billion. Stimulated by the Middle East conflict, the oil and gas services sector saw a broad rally, with Shandong Molong (568) surging 58.8% due to market expectations of a surge in oil service demand; Sinopec Oilfield Services (1033) also rose 32.1%. Meanwhile, AI application leader MINIMAX (0100) announced a 1.3-fold year-on-year revenue increase in the fourth quarter of last year, far exceeding market expectations, boosting its share price by 17.8% against the market trend.

Source: KGI Investment Products and Solutions Department

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