Market Roundup

Hong Kong stocks weakened in the morning session due to concerns about overseas interest rates and a wait-and-see attitude before the Lunar New Year. The Hang Seng Index opened lower and fluctuated downwards throughout the morning session, falling 242 points or 0.9% to 27,023 points; the Hang Seng China Enterprises Index fell 89 points or 1% to 9,178 points; and the Hang Seng Tech Index underperformed the market, falling 92 points or 1.7% to 5,407 points. The total turnover of the market in the morning session was HK$127 billion. Technology stocks were generally under pressure. NetEase (9999) fell 3.8% in the morning session due to its fourth-quarter results falling short of expectations; Budweiser APAC (1876) fell 4.6% due to weak consumer spending. Conversely, rumors that the Shenzhen Municipal Government planned to introduce an 80 billion RMB bailout plan boosted Vanke (2202) by 5.2% against the market trend; SenseTime (0020) also rose 5.2%.

Source: KGI Investment Products and Solutions Department

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