Market Roundup

Market attention was focused on escalating tensions in the Middle East, leading to a sharp decline in Asia-Pacific stock markets, including Hong Kong stock market. The HSI opened 488 points lower and then widened its losses, closing down 894 points or 3.5% at 24,382; the HSCEI fell 266 points or 3.1% to close at 8,307; and the HSTECH dropped 159 points or 3.3% to close at 4,712. Total market turnover was HK$368.7bn. Major technology stocks generally declined, with Alibaba (9988), Meituan (3690), and JD.com (9618) each falling 3.2% to 3.3%, while Tencent (0700) fell 1.9%. Resource stocks Jiangxi Copper (0358), Minmetals Resources (1208), ACC (2600), and COCC (3993) fell 4.7% to 6.3%.

Source: KGI Investment Products and Solutions Department

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