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Adolescents in China can only play 3 hours of online games on weekends.
The Hong Kong market opened down slightly. Hang Seng index lost 1 point. H share index was unchanged and technology index rose 5 points. BYD reported 24% fall in interim profit. Sh...
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Adolescents in China can only play 3 hours of online games on weekends.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The Hong Kong market opened down slightly. Hang Seng index lost 1 point. H share index was unchanged and technology index rose 5 points. BYD reported 24% fall in interim profit. Share price lost 2.82% for 13-point loss. HSBC lost 0.6% for 11-point loss. On the contrary, Meituan rose 1.8% for 30-point gain. Geely rose 2.7% to become the top gainer. Country Garden lost 3.16% to become the top loser. Geely rose 4.3% for 14-point gain. Wuxi Biologics rose 2.2% for 18-point gain. A shares opened up 0.17%. Shanghai composite index rose 6 points. The market fell further after opening, as Hang Seng index lost more than 100 points. BYD fell 4.3% for 20-point loss. AIA lost 1.9% for 42-point loss. Tencent lost 1.75% for 31-point loss. Ping An lost 2.95% for 25-point loss. HSBC lost 1.3% for 25-point loss. New energy stocks rose. Xinyi Solar rose 8.3%. Flat Glass rose 8.8%. Gongfeng Lithium rose 7.5%. Non-ferrous metals rose. Jiangxi Copper rose 4.7%. Chalco rose 5.2%. Luoyang Moly rose 4.56%. The market turned from lost to gain. Alibaba rose 1.9% for 35-point gain. Wuxi Biologics rose 4.05% for 34-point gain. Geely rose 5.6% for 18-point gain. Shipping stocks rose. Cosco Holding rose 4.4%. OOIL rose 6.54%. Cosco Development rose 4.3%. A shares closed the morning up 0.34%. Shanghai composite index closed up 12 points. Hang Seng index closed the morning up 88 points. H share index closed up 12 points and technology index up 48 points. Turnover was $76 billion.

The market rose further in the afternoon, as Hang Seng index gained more than 100 points. Meituan rose 2.2% for 38-point gain. Alibaba rose 1.4% for 26-point gain. Wuxi Biologics rose 3.5% for 28-point gain. Xinyi Solar rose 9.7% for 17-point gain to lead the blue chips. Hong Kong Exchanges rose 1.5% for 18-point gain. On the contrary, financial stocks fell. AIA lost 1.63% for 35-point loss. Ping An lost 2.32% for 20-point loss. CCB lost 1.42% for 18-point loss. Tencent lost 0.9% for 15-point loss. Power generators rose sharply. Longyuan rose 13%. CR Power rose 7%. China Power rose 8.3%. Huaneng International rose 4.3%. Pharmaceutical, medical services, and medical web shares rose. Wuxi Biologics rose 3.5%. CSPC rose 2.6%. Sino Biopharm rose 2.1%. Kanji Medical rose 8.7%. Heartcare rose 8.2%. Microport rose 7.2%. Kintor Pharm rose 7.5%. Alphamab rose 8.5%. Cansino rose 5.8%. Ali Health rose 6%. PA Good Doctor rose 5.23%. JD Health rose 3%. Oil stocks rose. Sinopec rose 4.8%. Petrochina rose 4.7%. A shares closed up 6 points. Hang Seng index closed up 131 points, H share index up 38 points and technology index up 69 points. Turnover was $136.6 billion.

Overnight, overseas markets were mixed. European markets rose. DAX rose 35 points. CAC rose 5 points and FTSE rose 23 points. US markets were mixed. Dow Jones lost 56 points. However, S & P rose 19 points and Nasdaq rose 136 points, both setting record highs. Hong Kong ADR’s lost 35 points. Night future rose 42 points. The Chinese Government would allow adolescents to play only 3 hours of online games during weekends. We expect the market to fall today.  
 
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