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Hong Kong market opened higher but retreated from morning high.
The US Federal Reserve left interest rates unchanged. US markets soared. Hong Kong market followed suit. Hang Seng index opened up 180 points, H share index up 74 points and techno...
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Hong Kong market opened higher but retreated from morning high.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The US Federal Reserve left interest rates unchanged. US markets soared. Hong Kong market followed suit. Hang Seng index opened up 180 points, H share index up 74 points and technology index up 60 points. Shanghai composite index opened up 15 points. Alibaba rose 1.95% for 26-point gain. Tencent rose 1.25% for 17-point gain. AIA rose 1.2% for 15-point gain. Meituan rose 1.1% for 12-point gain. Lenovo rose 3.9%. Xiaomi rose 6.5% to lead the blue chips for 22-point gain. The market rose further after opening. Hang Seng index reached a high of 17459 points, up 356 points. Heavyweights rose further. AIA rose 2% for 26-point gain. Meituan rose 2.5% for 26-point gain. Tencent rose 2.5% for 32-point gain. XPeng’s sales rose sharply. Share price soared 9.3%. Li Auto rose 5.4%. Nio rose 3.6%. Geely rose 3.5%. BYD rose 1%. Handset suppliers rose. Sunny Optical rose 2.9%. AAC rose 1.7%. Q-Tech rose 5.96%. Hong Kong properties rose. Link rose 5.7%. Wharf rose 2.75%> Henderson Land rose 3.4%. MTR rose 2.4%. Brokers lowered the rating of Yum China. Share price fell 6.3%. Haidilao lost 2%. Li-ning rose 4%. Anta rose 0.5%. However, CR Beer lost 2.7% to become the top loser. Nongfu Sprin lost 0.6%. Pharmaceuticals were mixed. Laekna rose 13%. Sinomab rose 8%. Peijia rose 5.7%. However, YSB lost 14.9%. Extrawell lost 7.1%. JW Therapeutic lost 3.7%. Shanghai composite index closed the morning up 5 points. Hang Seng index closed the morning up 206 points, H share index up 80 points and technology index up 85 points. Turnover was $41.5 billion.

The market retreated from morning high in the afternoon. Hang Seng index gained more than 100 points. Heavyweights fell. Alibaba lost 1.7% for 22-point loss. Xiaomi rose 6% for 25-point gain. AIA rose 1.8% for 23-point gain. Tencent rose 0.9% for 11-point gain. Local properties rose. Link rose 7.1% to lead the blue chips for 10-point gain. Henderson Land rose 4.14%. SHK Properties rose 2.5%. MTR rose 2%. Auto shares rose. Geely rose 4.86%. XPeng rose 7.8%. Nio rose 4.4%. Li Auto rose 3.1%. Pharmaceutical shares fell. Sinopharm lost 2.1%. Hansoh Pharm lost 2.05%. and CSPC lost 1.2%. These were the top three losers. East Buy lost 7.1% to become the top loser among technology stocks. The market’s gain narrowed in the afternoon due to A shares turning from gain to loss. Meituan lost 1.93% for 20-point loss. Xiaomi, Alibaba and AIA retreated from morning highs. Shanghai composite index closed up 13 points. Hang Seng index closed up 129 points, H share index up 51 points and technology index up 61 points. Turnover was $ billion.

Overnight overseas markets soared on lower interest rates. DAX rose 220 points. CAC rose 128 points. FTSE rose 108 points. US markets soared. Dow Jones rose 564 points. S&P prose 80 points. Nasdaq rose 232 points. Hong Kong ADR’s rose 95 points. Night future rose 124 points. We expect the market to rise today.  
 
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