Market Insight

Half Day Roundup

Asia-Pacific stock markets performed well today, but Hong Kong stock market continued to weaken today. The HSI opened 131 points lower and then expanded its losses, falling 238 points or 1.3% at mid-day to 17,561; the HSCEI fell 83 points or 1.3% to 6,299; the HSTECH fell 25 points or 0.7% to 3,571. The total mid-day turnover of the market was HK$46.77bn. The Baltic Exchange Dry Index fell for three consecutive days, and shipping stocks generally fell. The share prices of COSCO Shipping Holdings (1919) and Orient Overseas (0316) fell 8.5% and 5.8% respectively. Domestic demand stocks generally fell, with Nongfu Spring (9633) and Xiabuxiabu (0520) both falling more than 4%.

Source: KGI Asia Investment Strategy

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