Market Roundup

On the settlement day for Hong Kong stock index futures, the Hang Seng Index opened 44 points lower and then fluctuated downwards, closing at 19,344 points at midday, down 259 points or 1.3%. The Hang Seng Tech Index reported 4,318 points, down 55 points or 1.3%. The China Enterprises Index fell 106 points or 1.5% to 6,921 points. The total market turnover for the half-day was HKD 63.8 billion. Consumer stocks were under pressure, with Anta Sports (2020) down 5.2% and China Resources Beer (291) down 4.1%. Newly listed stock Jiuyuan Gene (2566), which was oversubscribed by more than 600 times, saw its share price drop by over 30%.

Source: KGI Investment Strategy

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