Market Insight

Market Roundup

U.S. stock market fell last night after higher-than-expected Jan’s CPI figures announced. Hong Kong stock market opened lower and moved higher today. The HSI fell 290 points in the morning and then rebounded. The HSI rose further afternoon, with closed at 15,879 today, up 132 points or 0.8%. The HSTECH reported at 3,197, up 70 points or 2.3%. The HSCEI rose 79 points, or 1.5%, to 5,386. The market turnover was HK$57.06bn. China South City (1668) is expected to trigger a note default, and its stock price fell 36.8% today. Casino stocks outperformed the market today, with Galaxy Entertainment (0027) rising 3.5%, Sands China (1928) rising 1.5%, and MGM China (2282) soaring 9.6% due to better-than-consensus of quarter result.

Source: KGI Asia Investment Strategy

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