Market Insight

Market Roundup

Hong Kong stocks followed the decline of US stocks and opened 65 points lower, opening at 21,559 points. The decline further expanded and closed at 21,190 point, down 434 points. The China Enterprises Index fell 188 points or 2.56% to 7,126 point; the Hang Seng Technology Index fell 209 points or 4.6% to 4,362 point. The market turnover was HK$119.8 bn. Standard Chartered (2888) clarified and denied that First Abu Dhabi Bank is considering bidding for the stock price, and the share price increase narrowed to 4.2%. SMIC (981) announced its fourth-quarter results, and its stock price fell 4.3% to HK$17.24.

Source: KGI Asia Investment Strategy

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