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Hong Kong market followed US markets and rose sharply.
The market opened higher on Monday. Hang Seng index opened up 249 points, H share index up 98 points and technology index up 88 points. AIA rose 2.68% for 36-point gain. Tencent ro...
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Hong Kong market followed US markets and rose sharply.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The market opened higher on Monday. Hang Seng index opened up 249 points, H share index up 98 points and technology index up 88 points. AIA rose 2.68% for 36-point gain. Tencent rose 2.4% for 32-point gain. Meituan rose 2.97% for 30-poitn gain. Alibaba rose 1.75% for 23-point gain. HK Exchanges rose 2.24% for 13-point gain. Auto shares rose. Zhongcheng rose 3.85% to become the top gainer at opening. BYD rose 2.5%. Nio rose 4.23%. XPeng rose 3.1%. Li Auto rose 4.93%. Shanghai composite index opened up 16 points. The market rose further after opening. Hang Seng index rose more than 300 points and breached 18000 points. AIA rose 3.8% for 50-point gain. Pharmaceutical shares rose sharply. Hansoh rose 6.24%. Sino Biopharm rose 4.3%. Wuxi Biologics rose 4.4%. CSPC rose 4.5%. Handset suppliers rose. Sunny Optical rose 5.96%. AAC rose 3.35%. Q-Tech rose 5.1%. Foxconn rose 5.1%. Auto shares rose further. Li Auto rose 10%. XPeng rose 7.1%. Nio lost 7.1%. Technology stocks rose. Chinese Literature rose 11.4%. Kingdee rose 7.7%. Kuaishou rose 7%. Sensetime rose 7.8%. JD rose 3.5%. Xiaomi rose 3.4%. Oil stocks fell. CNOOC lost 1.8%. Petrochina lost 2.3%. Mainland developers rose sharply. Evergrande rose 14.3%. Sunac rose 11%. Vanke rose 8.5%. Country Garden rose 8.45%. Cifi rose 17.8%. Hopson rose 14.4%. Longfor rose 6.9%. CR Land rose 4.1%. Shanghai composite index closed the morning up 22 points. Hang Seng index reached a high of 18027 points, up 363 points and closed up 298 points, H share index up 118 points and technology index up 146 points. Turnover was $66.4 billion.

The market was little changed in the afternoon. Hang Seng index gained more than 300 points. H share index rose 116 points and technology index rose 145 points. Meituan rose 5.9% for 60-point gain. Tencent rose 2.9% for 39-point gain. Alibaba rose 2.2% for 30-point gain. HK Exchanges rose 3% for 17-point gain. Wuxi Biologics rose 5.5% for 16-point gain. Ping An rose 3.5% for 16-point gain. BYD rose 2.9% for 13-point gain. HSBC rose 0.7% for 11-point gain. JD rose 4% for 11-point gain. HSBC rose 0.7% for 11-point gain. The Chinese issued list of quantity purchase drugs. Pharmaceutical shares rose sharply. Sino Biopharm rose 6.3%. Wuxi Biologics rose 4.6%. Pharmaron rose 10.5%. Genscript rose 10%. Angel Align rose 10.2%. Beigene rose 9.1%. Zai Lab rose 7%. Clover Pharm rose 7.5%. Junshi Pharm rose 7.45%. Beer shares rose. CR Beer rose 4.9%. Budweiser rose 4.7%. Tsingtao Beer rose 1.3%. Mainland brokers and insurers rose. CSC rise 7,6%. CICC rose 7.56%. China Galaxy rose 6.2%. Ping An rose 2.9%. China Life rose 3.1%. NCI rose 3.7%. Resources fell. China Hongqiao lost 3.5%. CNOOC lost 3.8%. China Shenhua lost 3.5%. The market’s gain narrowed in midafternoon. Shanghai composite index closed up 23 points. Hang Seng index closed up 302 points, H share index up 129 points and technology index up 161 points. Turnover was $115.2 billion.

Overnight, overseas markets were mixed. DAX lost 53 points and CAC lost 34 points. FTSE rose a fraction. Dow Jones rose 34 points. S & P rose 7 points and Nasdaq rose 40 points. ADR’s lost 33 points and night future lost 127 points. We expect the market to fall today.
 
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