Market Roundup

Market Roundup

U.S. bond rates and the DXY rebounded, while U.S. stocks fell. Hong Kong stock market also followed the Asia-Pacific market downward today. The HSI opened 163 points lower and then fluctuated. The index closed at 16,646, down 142 points or 0.9%; the HSCEI fell 43 points or 0.8% to close at 5,628; the HSTECH fell 68 points or 1.8% to close at 3,646. The total daily turnover of the market was HK$79.3bn. Foreign media reported that the Chinese video gaming official, who proposed new gaming restriction, stepped down. Tencent (0700) and NetEase (9999) rose 1.3% and 1.0% respectively. Apple (AAPL.US) was downgraded, citing weak sales of the latest iPhone. Mobile phone component stocks Sunny (2382) and AAC (2018) fell 3.8% and 2.7% respectively.

Source: KGI Asia Investment Strategy

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