Market Roundup

The Hang Seng Index opened 130 points higher this morning but then turned lower, closing down 291 points or 1.12% at 25,768. The Hang Seng China Enterprises Index closed down 93 points or 1.07% at 8,608. The Hang Seng Tech Index was weaker, falling 113 points or 2.26% to 4,876. Total market turnover reached HK$370.5 billion. Stimulated by the Middle East conflict, the oil and gas services sector saw a broad rally, with Shandong Molong (568) surging 26% due to market expectations of a surge in oil service demand; Sinopec Oilfield Services (1033) also rose 13%. Meanwhile, AI application leader MINIMAX (0100) announced a 1.3-fold year-on-year revenue increase in the fourth quarter of last year, far exceeding market expectations, boosting its share price by 9.1% against the market trend.

Source: KGI Investment Products and Solutions Department

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