HSI Climbs 175 Pts; Techs Boom

The market once again speculated a rate cut by the Fed, as the US PCE inflation last month was in line, shoring up the DJIA by 654 pts or 1.6% last Friday (26th). The Hong Kong stock market opened higher this morning, echoing the external market. $Hang Seng Index (800000.HK)$ opened 175 pts or 1% higher at 17,196; $Hang Seng China Enterprises Index (800100.HK)$ opened 64 pts or 1.1% higher at 6,074; and $Hang Seng TECH Index (800700.HK)$ opened 48 pts or 1.4% higher at 3,491.

For techs, $BABA-W (09988.HK)$ and $KUAISHOU-W (01024.HK)$ soared 2.3%. $TENCENT (00700.HK)$ , $MEITUAN-W (03690.HK)$ , $XIAOMI-W (01810.HK)$ , $JD-SW (09618.HK)$ , $BIDU-SW (09888.HK)$ and $BILIBILI-W (09626.HK)$ added 1.5%-2%.