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HKEX Market Update 2023-03-01

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HSI soared 4.2% (+834 pts) after a 6-day losing streak, closed at 20620 points, the best % gain in nearly 3 months, crossed above MA250 (19949 pts).

Among the 150 largest-cap stocks, 146 (97%) closed higher. 75% of all HKEX stocks ended higher, the most in more than 1 month, good for the market.

In terms of sectors, all sectors were up with gains from 1.6% to 6.2%. 5 sectors outperformed the market. The market was up 4.3%; Communication soared 6.2%, the best performer, reflecting a more aggressive market sentiment; Utilities was up 1.6%, but already the worst performer.

● NIO (9866) largely rebounded 12.8% (+$9.2) after a 3-day losing streak, closed at $81, the best % gain in 1 month. The best performer but with average volume.
360miq.com/stockinfo?code=9866.HK

● MGM CHINA (2282) jumped 6.7% (+$0.64), closed at $10.2, crossed above MA20 and MA50 ($9.89, $9.74). The largest increase in volume.
360miq.com/stockinfo?code=2282.HK

360miq.com/market?data=HKEX#tab-3

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