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The RMB rose again. Hong Kong shares soared in June.
The market opened much higher on Friday. The RMB rose 219 points vs the US dollar. Investors chased stocks. Hang Seng index opened up 350 points, H share index 122 points and techn...
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The RMB rose again. Hong Kong shares soared in June.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The market opened much higher on Friday. The RMB rose 219 points vs the US dollar. Investors chased stocks. Hang Seng index opened up 350 points, H share index 122 points and technology index up 96 points. Alibaba rose 4.46%% for 64-point gain. Tencent rose 3.87% for 56-point gain. AIA rose 2.66% for 39-point gain. Meituan rose 3.55% for 31-point gain. HSBC rose 1.3% for 21-point gain. HK Exchanges rose 2.4% for 14-point gain. Baidu rose 4.8% and JD rose 4.7% to lead the gainers. Shanghai composite index opened up 13 points. The market rose sharply after opening as Hang Seng index gained more than 400 points. Heavyweights rose further. Technology stocks rose. GDS rose 5.5%. Kuaishou rose 5%. Baidu rose 4.7%. Trip.com rose 3.97%. The market rose further in midmorning. Hang Seng index rose more than 600 points. Alibaba rose 5.6% for 80-point gain. Tencent rose 4.2% for 62-point gain. AIA rose 2.86% for 42-point gain. Meituan rose 5% for 40-point gain. HSBC rose 1.2% for 23-point gain. Auto shares rose. XPeng rose 4.3%. Nio rose 2.4%. Li Auto rose 4%. BYD rose 2.3%. Mainland developers rose. Longfor rose 12%. Country Garden rose 7.8%. Consumption stocks rose. Haidilao rose 3.6%. Lining rose 3.5%. Anta Sports rose 3.3%. Hang Seng index closed the morning up 66 points, H share index up 260 points and technology index up 175 points. Turnover was 62.3 billion.

The market rose further in the afternoon. Hang Seng index rose more than 700 points. Heavyweights rose sharply. Alibaba rose 6.4% for 91-point gain. Tencent rose 5.7% for 83-point gain. Meituan rose 7.5% for 65-point gain. AIA rose 3.6% for 52-point gain. HSBC rose 1.65% for 26-point gain. Ping An rose 4.4% for 21-point gain. Lining rose 11% for 20-point gain. Anta Sports rose 7.95% for 16-point gain. Mainland developers rose further. Longfor rose 15\9+% to lead the gainers. CG Services rose 12.4%. CR Mix rose 9%. Country Garden rose 8.6%. CR Land rose 7.4%. China Overseas Land rose 7.3%. Metal shares rose sharply. China Hongqiao rose 9.35%. Chalco rose 7.1%. Luoyang Moly rose 5%. MMG rose 5%. Angang Steel rose 4.95%. Tianqi Lithium rose 7.6%. Ganfeng Lithium rose 7.2%. Yankuang rose 3.33%. China Shenhua rose 2%. TVB soared 47% as it reported success in its direct sales. HKTV Mall rose 5.8%. Shanghai composite index closed up 25 points. Hang Seng index reached a high of 19025 points, up 808 points, and closed up 733 points. H share index closed up 278 points and technology index up 140 points. Turnover was $149.1billion.

Last Friday night, overseas markets rose. DAX rose 197 points; CAC rose 133 points. FTSE rose 113 points. In the US May non-farm payroll increased by 339000 better than expected. Dow Jones rose 701 points. S&P rose 61 points and Nasdaq rose 140 points. HK ADR’s rose 73 points. Night futures rose 210 points. We expect the market to rise today. 
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