Market Roundup

Hong Kong stocks opened higher for the first half of the day before fluctuating in a narrow range. The Hang Seng Index opened 79 points higher and initially rose over 200 points to 26,102. However, pressure from technology stocks and weakening A-shares pushed the Hang Seng Index down as much as 165 points, closing at 25,839, down 50 points, or 0.19%. The China Enterprises Index rose 7 points, or 0.08%, to 9,230. The Hang Seng Tech Index performed worse, falling 79 points, or 1.29%, to 6,066. Market turnover for the first half of the day was approximately HK$188.8 billion. High-yield stocks performed well today, with China Merchants Bank (3968) rising 4.3% and China Construction Bank (939) rising 2%. Conversely, domestic chip stocks, which had previously performed well, saw SMIC (981) fall 5.6% and Hua Hong Semiconductor (1347) drop 10.4%.

Source: KGI Investment Products and Solutions Department

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