Market Insight

Market Roundup

U.S. stocks developed individually. The Dow Jones Index closed down. After the Hang Seng Index opened 45 points lower, the index once recovered all the losses, but the Hang Seng Index then fell another 429 points, or 2.1%, to 19,868 points; the China Enterprises Index fell 162 points, or 2.4% to 6,735 points; the Hang Seng Technology Index fell 116 points, or 3%, to 3,799 point. The market's turnover was HK$ 122.1 bn. Chip stocks were under pressure, SMIC (981) and Hua Hong Semiconductor (1347) fell 6.3% and 3.1% respectively. “Chinese Special Valuation method” theme stock retreated, China Ping An (2318) fell 3.9%, and China Pacific Insurance (2601) fell 2.9%.

Source: KGI Asia Investment Strategy

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