Market Insight

Market Roundup

U.S. stocks closed lower last night. The Hang Seng Index followed and opened 67 points lower to 20,330 point. The half-day trend was weak, falling 129 points or 0.6% to 20,267 point; the H-Share Index fell 57 points or 0.8% to 6,838 point; The Hang Seng Technology index fell 74 points, or 1.8%, to 4,024 points. The market's half-day turnover was HK$47.4 bn. Li Ning (2331) announced yesterday that it recorded mid-single-digit growth in the first quarter. The share price once rose by 13%, but the half-day increase narrowed to 3%, closing at HK$59.2. Chinese stocks continued to rallied but their gains narrowed. China Railway Group (390) and China Railway Construction (1186) reached record high and rose nearly 1%.

Source: KGI Asia Investment Strategy

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