Market Insight

Market Roundup

China Politburo meeting has been announced yesterday, in which mentioned several directions for specific industries. Especially “No speculation activity in property market” was no longer for the first time and capital market and investor confidence should be re-boosted. Today, Hong Kong stocks were stimulated to rise significantly. The HSI opened 504 points higher and then expanded its gains. The HSI rose 766 points or 4.1% to close at 19,434. The HSCEI rose 333 points, or 5.3%, to close at 6,604. The HSTECH rose 242 points or 6% to close at 4,257. The market's full-day turnover totaled HK$142.1bn. Chinese property stocks were generally soared up. The share prices of privately owned Chinese property stocks such as Longfor (0960) and Seazen (1030) rose between 16.7% and 28.6%. Domestic demand stocks are all up today, Li Ning (2331), Anta (2020) and other stock prices have risen by more than 5%

Source: KGI Asia Investment Strategy

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