Market Roundup

Last night, US-based Chinese stocks retreated, sending Hong Kong stocks lower in the morning session. The HSI opened 57 points lower and then extended its decline, falling 287 points, or 1.1%, to 26,669. The HSCEI fell 99 points, or 1%, to 9,473, and the HSTECH Index dropped 71 points, or 1.1%, to 6,478. Market turnover for the half-day was HK$106.6bn. Major technology stocks generally declined, with Alibaba (9988) and Baidu (9888) down 3% and 3.4%, respectively. Tencent (0700) dipped slightly 0.5%, while NetEase (9999) bucked the market and rose 1.1%. At the end of the National Day Golden Week holiday, airline stocks like Air China (0753), China Eastern Airlines (0670), and China Southern Airlines (1055) fell by over 3%.

Source: KGI Investment Products and Solutions Department

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