Market Roundup

The market is awaiting progress in the US-China trade talks over the weekend. The Hang Seng Index closed at 22,777 points at midday, up 1 point or 0.0%. The Hang Seng Tech Index reported 5,144 points, down 83 points or 1.6%. The China Enterprises Index fell 21 points or 0.3%, to 8,278 points. The total market turnover at midday was HKD 96.7 billion. SMIC (981) announced its first-quarter results, with management expecting pressure on gross margins in the second quarter, dropping nearly 7%. Hua Hong Semiconductor (1347) fell more than 12%.

Source: KGI Investment Strategy Department

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