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The Hong Kong market soared more than 800 points on the strength of technology stocks.
The market rose sharply higher on Thursday. Hang Seng index opened up 393 points, H share index up 172 points and technology index up 161 points. Alibaba rose 6.24% to lead the gai...
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The Hong Kong market soared more than 800 points on the strength of technology stocks.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The market rose sharply higher on Thursday. Hang Seng index opened up 393 points, H share index up 172 points and technology index up 161 points. Alibaba rose 6.24% to lead the gainers for 151-point gain. Tencent rose 3.06% for 60-point gain. Xiaomi rose 2% for 30-point gain. BYD rose 3.15% for 19-point gain. HK Exchanges rose 2.53% for 17-point gain. AIA rose 1.55% for 16-point gain. CNOOC lost 1.14% to lead the losers. Shanghai composite index opened up 12 points. The market rose further after opening as Hang Seng index rose more than 500 points. Alibaba rose 7.4% for 181-point gain. Tencent rose 5.7% for 111-point gain. Xiaomi rose 3.2% for 49-point gain. Meituan rose 4.5% for 70-point gain. AIA rose 3.68% for 39-point gain. HK Exchanges rose 4.4% for 29-point gain. Kuaishou rose 15.1% for 38-point gain to lead the blue chips. CKH rose 11% for 22-point gain. Cloud service and software shares rose. Mingyuan Cloud rose 25%. Kingdee rose 22%. Inspur rose 16%. Lenovo rose 5.36%, Chinasoft rose 8.7%. Handset suppliers rose. Sunny Optical rose 6.67%. AAC rose 8.6%. Q-Tech rose 5.6%. Cowell rose 2.6%. Shanghai composite index closed the morning up 35 points. Hang Seng index closed the morning up 623 points, H share index up 248 points and technology index up 272 points. Turnover was $2167 billion.

The market rose further in the afternoon. Hang Seng index gained more than 800 points. Technology stocks led the rally. Alibaba rose 8.8 % for 215-point gain to lead the blue chips. Tencent rose 7% for 138point gain. Meituan rose 5.7% for 89-point gain. AIA rose 3.9% for 41-point gain. Kuaishou rose 16% for 40-point gain. JD rose 8.2% for 37-point gain. HK Exchanges rose 4.9% for 32-point gain. Xiaomi rose 1.5% for 22-point gain. CKH rose 11% for 22-point gain. BYD rose 3.85% for 23-point gain. Ping An rose 4.3% for 20-point gain. SMIC rose 4.7% for 17-point gain. Hang Seng index reached a high of 24315 points, up 719 points. Mainland developers rose. Longfor rose 5.9%. China Overseas Land rose 4.67%. Sunac rose 6.9%. Vanke rose 5.9%. Cifi rose 7.1%. Insurers rose. Ping An rose 4.3%. China Life rose 4.8%. NCI rose 4.2%. CPIC rose 4.1%. Shanghai composite index closed up 39 points. Hang Seng index closed up 775 points, H share index up 307 points and technology index up 310 points. Turnover was $377.1 billion.

Overnight, European markets were mixed. DAX rose 338 points and CAC rose 24 points but FTSE lost 73 points. US markets fell sharply. The market was displeased by the confusion caused by Trump’s tariff. Dow Jones lost 427 points. S & P lost 104 points and Nasdaq lost 483 points. Hong Kong ADR’s lost 108 points. Night future lost 321 points. We expect the market to fall today.  
 
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