Market Insight

Half Day Roundup

After US stock market rose last Friday, Hong Kong market rose this morning. The HSI opened 86 points higher and then expanded its gains. It once rose 380 points to above 18,000 points. It rose 226 points or 1.3% at mid-day to 17,878. The HSCEI rose 56 points, or 0.9%, to 6,326; the HSTECH rose 30 points, or 0.8%, to 3,748. The total mid-day turnover of the market was HK$96.8bn. AIA (1299)'s new business value in 1Q24 which hit a quarterly high, and the share repurchase plan increased by US$2bn, the stock price rose 7.9%. Bank of Communications (3328) first-quarter net profit rose 1.4%, share price rose 3.3%.

Source: KGI Asia Investment Strategy

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