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Crude oil fell below US$80 per barrel. US markets soared.
The market opened higher on Monday. Trump indicated that the US and Iran reached a ceasefire agreement and will sign the agreement this Friday. Hang Seng index opened up 283 points...
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Crude oil fell below US$80 per barrel. US markets soared.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The market opened higher on Monday. Trump indicated that the US and Iran reached a ceasefire agreement and will sign the agreement this Friday. Hang Seng index opened up 283 points, H share index up 80 points and technology index up 83 points. Shanghai composite index opened up 24 points. Tencent rose 2.46% for 49-point gain. Alibaba rose 2.63% for 46-point gain. HSBC rose 1.4% for 28-point gain. AIA rose 1.8% for 28-point gain. SMIC rose 3.3% for 15-point gain. Meituan rose 2.05% for 14-point gain. Xiaomi rose 1.9% for 14-point gain. Zijin Mining rose 7.2% for 20-point gain to lead the blue chips. Crude oil fell to US$80 per barrel. Oil stocks fell sharply. CNOOC lost 1.3% for 7-point loss. Petrochina lost 1.35% for 5-point loss. The market was little changed after opening as Hang Seng index rose close to 300 points. Gold miners soared. Zijin Gold rose 11%. Zhaojin rose 6.1%. SD Gold rose 6.1%. China Gold rose 6.8%. AI shares rose. Knowledge Atlas rose 35%. Minimax rose 3.5%. Xunce rose 5.1%. Haizhi Technology rose 12%. Innoscience rose 6.5%. PCB shares rose. KB Laminates rose 11.6%. Giga Device rose 5.5%. VGT rose 4%. Delton rose 4.4%. Non-ferrous metals rose. Luoyang Moly rose 8%. Jiangxi Copper rose 7.6%. MMG rose 8%. Chinese broker shares rose. CICC rose 7.5%. Citic Securities rose 6.1%. GF Securities rose6.2%. Hang Seng index reached a high of 25048 points, up 330 points. However, the market could not hang on to its gain and retreated. Hang Seng index gained about 100 points. Alibaba and Tencent turned from gain to loss. Tencent lost 1 % for 21-point loss. Alibaba lost 1.1% for 20-point loss. CNOOC lost 3.2% for 19-point loss. China Mobile lost .6% for 12-point loss. Petrochina lost 3% for 10-point loss. Shanghai composite index closed the morning up 37 points. Hang Seng index closed the morning up 111 points, H share index up 7 points and technology index up 43 points. Turnover was $159.1 billion.

The market rose slightly in the afternoon. Hang Seng index was up 135 points, H share index up 14 points and technology index up 50 points. HSBC rose 2% for 40-point gain. SMIC rose 6.7% for 30-point gain. Lenovo rose 10.3% for 24-point gain. AIA rose 1.94% for 23-point gain. Zijin Mining rose 5.9% for 17-point gain. HK Exchanges rose 1.63% for 11-point gain. Techtronic rose 3.96% for 10-point gain. China Life rose 2.9% for 10-point gain. On the other hand, Tencent lost 0.95% for 19-point loss. Alibaba lost 1% for 19-point loss. Petrochina lost 4.44% for 15-point loss. CNOOC lost 2.44% for 14-point loss. China Shenhua lost 4.9% for 11-point loss. Café de Coral’s last year’s profit fell 29% but announced shares buyback. Share price rose 15%. Shanghai composite index closed up 60 points. The market rose further in late trading. HSBC rose 2.6% for 52-point gain. SMIC rose 7% for32-point gain. AIA rose 2.8% for 34-point gain. Lenovo rose 9.3% for 22-point gain. Hang Seng index closed up 150 points, H share index up 3 points and technology index up 55 points. Turnover was $269 billion.

Overnight, European markets were mixed. DAX rose 259 points and CAC rose 33 points but FTSE lost 41 points. US markets soared. Dow Jones rose 469 points. S & P rose 123 points. Nasdaq rose 795 points. Hong Kong ADR’s lost 1 point and night future lost 33 points. We expect the market to rise today.  
 
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