Market Insight

Market Roundup

U.S. CPI lower than market expectations, and market expect rate cut in September. The Hang Seng Index opened 188 points higher at 18,020 points. The index performance further expanded to a rise of 461 points or 2.6% at 18,293 points; the HSCEI Index rose by 160 points or 2.5% to 6,532 points; the Hang Seng Technology Index rose by 85 points or 2.3%, reported at 3,782 points. The total daily turnover of the market was HK$119.4 billion. Benefiting from the rising expectations of interest rate cuts, Hong Kong real estate stocks performed well. The share prices of CK ASSET (1113) and Swire Properties (1972) rose 5.5% and 4.3% respectively. Leasing related stocks also performed well, with Link REIT (823) rose 6.4%.

Source: KGI Asia Investment Strategy

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