Market Roundup

The Hang Seng Index opened lower and continued to weaken, falling 485 points or 1.8% to 26,548 in the morning session; the Hang Seng China Enterprises Index fell 160 points or 1.7% to 9,015; and the Hang Seng Tech Index fell 89 points or 1.7% to 5,320. Total turnover for the morning session was HK$128 billion. Market focus was on IPOs and AI concepts. New listing Haizhi Technology (02706) performed strongly on its first day, surging 229% in the morning session. Minimax-WP (00100) benefited from the launch of its new flagship model, the GLM-5, and the implementation of a price increase, with its share price rising over 9% against the market trend. Conversely, the non-ferrous metals sector was pressured by the market conditions, with Zijin Mining (2899) falling 5.2% in the morning session, one of the blue chips with the most significant declines.

Source: KGI Investment Products and Solutions Department

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