Market Roundup

On the first trading day of December, the Hang Seng Index opened 19 points higher at 19,442 points. The index briefly turned negative but closed the morning session at 19,468 points, up 45 points or 0.2%. The Hang Seng Tech Index rose 26 points or 0.6% to 4,379 points. The China Enterprises Index increased by 26 points or 0.4% to 6,973 points. The total market turnover was HKD 77.8 billion. Despite Meituan's (3690) announced better-than-expected earnings, concerns over expanding overseas losses led to a 3.5% drop in its stock price. The best-performing index constituents today were BYD Electronic (285) and Nongfu Spring (9633), with their stock prices rising by 10.1% and 7.8%, respectively.

Source: KGI Investment Strategy

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