Market Roundup

Hong Kong stocks were mixed throughout the day, with the three major indices showing mixed gains and losses. The Hang Seng Index opened 20 points lower and then rose 152 points at one point, but the decline widened to 223 points in the afternoon before stabilizing in late trading. It closed at 25,888 points, down 22 points, or 0.09%. The China Enterprises Index rose 8 points, or 0.09%, to 9,259 points. The Hang Seng Tech Index fell 72 points, or 1.18%, to 6,003 points. The market's total turnover for the day was HK$ 275.4 billion. Coal stocks benefited from the widespread cooling in northern China and peak winter demand, with China Coal Energy (1898) leading the gains, rising 7.26%. Technology and internet stocks generally weakened, with Xiaomi Group (1810) falling 3.6% to 47.7 yuan, Baidu (9888) falling 1.67%, and SenseTime (20) falling 1.19%. Education stocks bucked the trend, rising, with New Oriental Education & Technology (9901) performing particularly well, rising 8.8%.

Source: KGI Investment Products and Solutions Department

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