Investment

Hong Kong stocks weakened on the last trading day of the first half of the year. The Hang Seng Index opened 18 points lower at 23,007, falling as much as 341 points to 22,685, before closing down 145 points or 0.63% at 22,881. The H-share Index fell 47 points or 0.61% to 7,558, while the Technology Index rose 79 points or 1.8% to 4,472. Total market turnover was HK$308 billion. The Hang Seng Index fell 2,749 points or 10.7% in the first half of the year; in June alone, it fell 2,301 points or 9.1%. A rebound in Hong Kong stocks is expected today. The Hang Seng Index is currently struggling around the 23,000 level, and the performance of Hong Kong stocks in the second half of the year is heavily dependent on the performance of US stocks. Currently, the Hang Seng Index's price-to-earnings ratio is around 12 to 13 times, only at a mid-range level, not yet high enough to trigger bargain hunting. Investors should not have high expectations for the Hang Seng Index in July. European stock...