Market Roundup

Hong Kong stocks opened lower this morning due to a sharp correction in IPOs. The Hang Seng Index opened 102 points lower and fell 63 points or 0.25% to 25,872 at midday; the Hang Seng China Enterprises Index fell 12 points or 0.13% to 9,094; and the Hang Seng Tech Index fell 0.2% to 5,604. Total turnover for the morning session was HK$81.6 billion. Ping An Insurance (2318) rose 2.74%, leading the blue chips, while Shenzhou International (2313) fell 4.12%, becoming the biggest loser among blue chips. The two newly listed stocks performed poorly on their first day of trading: XIAO NOODLES (2408) plunged 27.27% to HK$5.12; and Tianyu Semiconductor (2658) plummeted 24.97% to HK$43.52.

Source: KGI Investment Products and Solutions Department

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