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New energy and medical service stocks led the advance.
The Hong Kong market opened slightly higher on Monday. Hang Seng index opened up 27 points , H share index up 19 points and technology index up 60 points. Meituan rose 1.2% for 13-...
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New energy and medical service stocks led the advance.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The Hong Kong market opened slightly higher on Monday. Hang Seng index opened up 27 points , H share index up 19 points and technology index up 60 points. Meituan rose 1.2% for 13-point gain. The market fell momentarily right after opening. Hang Seng index lost 83 points. However, the market rebounded quickly. Hang Seng index rose to a high of 29239, up 161 points. Meituan rose 5% for 55-point gain. Tencent rose 1% for 28-point gain. Alibaba rose 0.9% for 11-point gain. Wuxi Biologics rose 2.7% for 27-point gain. HK Exchanges rose 2.3% for 32-point gain. AIA rose 1.5% for 41-point gain. On the contrary, CCB lost 1.53% for 26-point loss. Xiaomi lost 1.85% for 20-point loss. Ping An lost 1.43% for 18-point loss. ICBC lost 1.3% for 12-point loss. BOC lost 1.9% for 11-point loss. Budweiser APC lost 3.5% to lead the losers. Technology stocks rose. Bili Bili rose 6%. Kuaishou rose 7%. Yeahka rose 4%. Vobile rose 3%. Cansino rose 8.3%, as vaccine supplies tightened globally. Shipping stocks rose. Cosco Holding rose 5.67%. Pacific Basin rose 3.1%. Metals rose. Jiangxi Copper rose 3.2%. Chalco rose 4.3%. Angang Steel rose 1.86%. Maanshan Iron rose 2.3%. IRC rose 9.6%. A shares closed the morning up 0.19%. Shanghai composite index closed up 6 points. Hang Seng index closed the morning up 23 points, H share index up 189 points and technology index up 119 points. Turnover was $80.9 billion.

The market turned from gain to loss in the afternoon. AIA rose 1.38% for 38-point gain. HK Exchanges rose 2% for 27-point gain. On the contrary, CCB lost 1.83% for28-point loss. Xiaomi was hurt by the serious deteriorating situation in India and fell 2.4% for 25-point loss. Wharf rose 2.12% to lead the blue chips. Geely lost 3.38% to lead the losers. BYD lost 1.9%. Kuaishou rose 7% as Bytedance’s IPO hit a roadblock. The market fell further in midafternoon, as Mainland banks and developers led the fall. Country Garden lost 2.6%. Longfor lost 2.12%. China Overseas Land lost 2%. Pharmaceuticals fell. Wuxi Biologics lost 0.78%. CSPC lost 3.34%. Sino Biopharm lost 2.13%. However, Kintor Pharma rose 21% as its covid drug was approved for clinical trial. Hong Kong and Singapore reached travel bubble agreement for tourism. Macau gaming stocks rose. Sands rose 1.62%. Galaxy rose 0.9%. Cathay Pacific rose 2.9%/ A shares closed down 0.95%. Shanghai composite index closed down 33 points. Hang Seng index closed down 126 points, H share index down 86 points but technology index up 17 points. Turnover was $140.8 billion.

Overnight, overseas markets mostly rose. European markets rose. DAX rose 16 points. CAC rose 17 points. FTSE rose 24 points. US markets were mixed. Dow Jones lost 61 points. S & P rose 7 points and Nasdaq rose 122 points to set record closing highs. Hong Kong ADR’s rose 2 points. Night future lost 45 points. We expect the market to rise today.
 
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