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The Hong Kong market rose for nine consecutive sessions. Hang Seng index breached 18000 points
The Hong Kong market opened sharply higher on Friday. Hang Seng index opened up 336 points, H share index up 144 points and technology index up 144 point. Technology stocks led the...
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The Hong Kong market rose for nine consecutive sessions. Hang Seng index breached 18000 points
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The Hong Kong market opened sharply higher on Friday. Hang Seng index opened up 336 points, H share index up 144 points and technology index up 144 point. Technology stocks led the rally. Tencent rose2.9% for 50-point gain. Alibaba rose 3.4% for 46-point gain. AIA rose 2.8% for 28-point gain. JD rose 5.3% for 17-point gain. Li Auto rose 7.1% to lead the blue chips for 16-point gain. Meituan rose 1.3% for 13-point gain. HK Exchanges rose 2.5% for 12-point gain. Ping An rose 3% for 13-point gain. Xiaomi rose 2.4% for 12-point gain. The market was little changed after opening. Hang Seng index gained more than 300 points and almost 400 points. However, Wuxi Biologics lost 3% Wuxi Apptec lost 2.2% against the market. Hang Seng index reached a high of 18604 points, up 394 points. However, the market could not hold on to its gain and retreated 200 points from the peak. Hang Seng index gained more than 100 points. Wuxi Biologics lost 6.2%. Meituan turned from gain to loss of 0.5%. Zijin lost 1.15%. Heavyweights retreated from morning highs. Tencent lost all its gain. Hang Seng index closed the morning up 206 points, H share index up 82 points and technology index up 80 points. Turnover was $69 billion.

The market rose further in the afternoon as Hang Seng index rose more than 300 points. Technology stocks led the rally. Alibaba rose 4.5% for 60-point gain. AIA rose 4% for 40-point gain. Tencent rose 1.1% for 18-point gain. JD rose 5% for 16-point gain. Ping An rose 4.6% for 19-point gain. Xiaomi rose 3% for 15-point gain. Netease rose 5.96% to lead the gainers. Technology stocks rose. Netease rose 5.8%. JD rose 5.65%. Baidu rose 4.8%. Macau gaming stocks rose. Sands rose 5.2%. Galaxy rose 4%. MGM rose 8%. Wynn rose 4%. Insurers rose. Ping An rose 4%. China Life rose 4.4%. CPIC rose 4.3%. AIA rose 4%. Auto shares rose. Li Auto rose 3.25%. XPeng rose 5%. Geely rose 1.22%. Dongfeng rose 4.2%. Consumption shares rose. CR Beer rose 3.9%. Anta Sports rose 3.3%. Trip rose 3.55%. The Hong Kong market rose for nine straight sessions. Hang Seng index soared above 18000 points. Hang Seng index closed the day up 268 points, H share index up 110 points and technology index up 105 points. Turnover was $116.2 billion.

Last Friday night, overseas markets rose. DAX rose 105 points. CAC rose 43 points and FTSE rose 41 points. US April non-farm payroll increased less than expected. US markets soared. Dow Jones rose 450 points. S&P rose 64 points and Nasdaq rose 315 points. Hong Kong ADR’s rose 44 points. Night future rose 22 points. We expect the market to rise today.
 
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