Market Insight

Market Roundup

U.S. stocks rebounded last night. The Hang Seng Index opened 122 points higher at 16,743 points. The Hang Seng Index fell 280 points or 1.7% to 16,340 points throughout the day. The H-Share Index fell 131 points or 2.3% to 5,489 points. The Hang Seng Technology Index fell 162 points or 4.4%, reported at 3,548 points. The total daily turnover of the market was HK$141.2 billion. In terms of sectors, affected by cold weather, Coal stocks Shenhua (1088) and Yankuang Energy (1171) performed well, rising 2.4% and 2.6% respectively. In terms of individual stock trends, Shenzhou International (2313) was affected by NIKE's lowered outlook, and its stock price fell 7.7% today to HK$78.

Source: KGI Asia Investment Strategy

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