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CSRC stopped short selling. Hong Kong shares rose sharply.
The market opened higher on Thursday. Hang Seng index opened down up 157 points, H share index up 52 points and technology index up 37 points. Shanghai composite index opened up 18...
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CSRC stopped short selling. Hong Kong shares rose sharply.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The market opened higher on Thursday. Hang Seng index opened down up 157 points, H share index up 52 points and technology index up 37 points. Shanghai composite index opened up 18 points. HSBC rose 0.98% for 17-point gain. Alibaba rose 1.23% for 16-point gain. AIA rose 1.92% for 18-point gain. CNOOC rose 1.58% for 9-point gain. CCB rose 0.92% for 9-point gain. Li Auto rose 4.4% to become the top gainer. The market rose further after opening as Hang Seng index gained more than 300 points. AIA rose 3.5% for 34-point gain. Tencent rose 2% for 30-point gain. Alibaba rose 2.6% for 35-point gain. Meituan rose 2.2% for 24-point gain. HSBC rose 1.2% for 21-point gain. CCB rose 1.6% for 16-point gian. Li Auto rose 6.2%. Li Auto rose 6.2% for 9-point gain. Auto shares rose. XPeng rose 8.6%. Nio rose 4.5%. Geely rose 2.2%. Leapmotor rose 5.3%. BYD rose 1.4%. Handset suppliers and Apple concept stocks rose. Sunny Optical rose 6.6%. AAC rose 6%. Q-Tech rose 23%. Cowell rose 3.9%. Foxconn rose 4.76%. Shanghai composite index closed the morning up 18 points. Hang Seng index reached a high of 17796 points, up 325 points. However, the market could not hang on to its gain and retreated. Hang Sengi index closed the morning up 268 points, H share index up 90 points and technology index up 731 points. Turnover was $54 billion.

The market rose further in the afternoon, as Hang Seng index gained more than 300 points. Technology stocks led the rally. Alibaba rose 3.2% for 42-point gain. AIA rose 4.1% for 40-point gain. HSBC rose 1.2% for 21-point gain. Tencenet rose 1.6% for 24-point gain. CCB rose 1.5% for 15-point gain. Xiaomi rose 3.35% for 15-point gain. HK Exchanges rose 2.7% for 13-point gain. Li Auto rose 7% for 13-point gain. Consumption stocks rose. CR Beer rose 4.7%. Anta Sports rose 4.6%. Mengniu rose 3.8%. Pharmaceutical shares rose. Wuxi Apptec rose 4.4%. Wuxi Biologics rose 4.1%. Innovent rose 5.1%. Cansino rose 4%. Pharmaron rose 6.9%. Genscript rose 5.7%. Local properties rose. New World rose 4.7%. SHK Properties rose 3.7%. Link rose 3.3%. Mainland properties rose sharply. Yuexiu rose 4.7%. China Overseas rose 3.4%. CR Land rose 3.1%. Vanke rose 3%. Sunac rose 4.8%. KWG rose 4.8%. Shimao rose 6.1%. Cement makers rose. CR Cement rose 10%. CNBM rose 4.67%. Shanghai composite index closed up 29 points. Hang Seng index closed up 360 points, H share index up 120 points and technology index up 96 points. Turnover was $100.4 billion.

Overnight, European markets rose. DAX rose 127 points. CAC rose 53 points and FTSE rose 30 points. US markets were mixed. Inflation fell in June. S & P and Nasdaq set record highs before profit taking caused the markets to fall. Dow Jones closed up 32 points. S & P closed down 49 points and Nasdaq down 364 points. Hong Kong ADR’s rose 76 points. Night future rose 121 points. We expect the market to rise today.  
 
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