Market Roundup

Market Roundup

US inflation data for March will be released soon. Today, Tencent (0700) have faced selling pressure due to its main shareholder reducing its shares. Hong Kong market was also dragged down. The HSI once fell 188 points to 20,296 and fell 121 points or 0.6% in mid-day to 20,363; the HSCEI fell 54 points or 0.8% to 6,895; the HSTECH fell 46 points or 1.1% to 4,201. The market's half-day turnover totaled HK$54.8bn. Tencent (0700) lost 3.7% to HK$362.6 in mid-day after major shareholder deposited 96mn shares in CCASS. Chip stocks rose against market today, SMIC (0981) and Hua Hong Sem (1347) rose 6.4% and 4.9% respectively.

Source: KGI Asia Investment Strategy

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