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The US added more non-farm jobs than expected. Interest rates rose.
The Hong Kong market opened sharply higher on Friday. Hang Seng index opened up 318 points, H share index up 102 points and technology up 88 points. Alibaba rose 4.5% for 65-point ...
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The US added more non-farm jobs than expected. Interest rates rose.
Analyst : Lun Sheung Nim (CEO, GEO Securities Limited)
The Hong Kong market opened sharply higher on Friday. Hang Seng index opened up 318 points, H share index up 102 points and technology up 88 points. Alibaba rose 4.5% for 65-point gain. HSBC rose 1.51% for 26-point gain. Meituan rose 1.85% for 24-point gain. Wuxi Biologics rose 3.7% for 19-point gain HK Exchanges rose for 17-oint gain. Tencent rose 1.6% for 14-point gain. CCB rose 1.15% for 12-point gain. A shares opened up 16 points. Auto stocks continued to rise. Geely rose 4%. Nio rose 5.7%. XPeng rose 5%. Li Auto rose 1.4%. Restaurant shares rose. Haidilao rose 4%. Jiumaojiu rose 4%. However, Lining lost 2.65% to lead the losers. Mainland developers rose. CR Land rose 2.4%. Longfor rose 2%. CG Services rose 1.9%. The market’s gain narrowed. Hang Seng index gained under 100 points. The main reason was Meituan’s falling 1.5% for 19-point loss. Shipping stocks rose again. OOIL rose 4.5% to become the top gainer. Cosco Holding rose 1.9%. Pacific Basin rose 4.3%. Solar energy stocks rose. Xinyi Solar rose 3.45%. GCL Technology rose 4.2%. Xinte Energy rose 3.3%. Akeso made placement to raise funds. Share price fell 6%. However, CSPC rose 4%. Zai Lab rose 2.1%. Clover rose 10%. Sisram rose 6%. A shares closed the morning up 8 points. Hang Seng index closed up 15 points, H share index down 14 points and technology index up 18 points. Turnover was $60.1 billion.

Japan’s former prime minister Abe Shinzo was assassinated during campaign. Nikkei closed up 26 points. Hong Kong market was little changed. Hang Seng index rose less than 100 points. Meituan lost 1.2% for 14-point loss. Wuxi Biologics lost 3.4% for 19-point loss. Lining lost 3% for 10-point loss. BYD lost 2% for 11-point loss. On the contrary, Alibaba rose 4% for 69-point gain. HK Exchanges rose 1.5% for 11-point gain. HSBC rose 0.6% for 10-point gain. The blockchain shares that rose sharply on Thursday fell sharply. Huobi Technology lost 22%. Grandshores lost 5%. OKG Technology lost 5%. Some pharmaceutical shares rose. BRII rose 13%. Sisram Pharm rose 8%. Clover rose 6.5%. CSPC rose 5.4%. Modern Dental rose 6%. Metals shares rose. Chalco rose 3%. MMG rose 2.2%. Luoyan Moly rose 5%. Ganfeng Lithium rose 1.28%. A shares closed down 8 points. Hang Seng index closed up 82 points, H share index up 13 points and technology index up 28 points. Turnover was $105.9 billion.

Last Friday night, overseas markets were mixed. Shinzo Abe’s assassination had little effect on equity market worldwide. European markets rose. DAX rose 172 points. CAC rose 26 points and FTSE rose 7 points. The US added 372000 non-farms jobs in June, better than expected. Interest rates rose. US markets were mixed. Dow Jones lost 46 points and S & P lost 3 points. Nasdaq rose 16 points. Hong Kong ADR’s lost 64 points. Night future rose 16 points. We expect the market to fall today.  
 
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