Market Roundup

Hong Kong stock market performed well today. The HSI opened 165 points higher and once rose above 25,000, setting a new high in early 2022. The HSI closed at 24,994, up 168 points or 0.7%; the HSCEI rose 53 points or 0.6% to close at 9,040; and the HSTECH rose 46 points or 0.8% to close at 5,585. The Hong Kong stock market had a total turnover of HK$263.01bn. The Chinese government intervened in the "involution" of e-commerce platforms. The State Administration for Market Regulation summoned Meituan (3690), Ele.me under Alibaba-W (9988) 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 encouraged the leading new energy vehicle companies to compete reasonably. BYD (1211) rose 1% today.

Source: KGI Investment Products and Solutions Department

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