Market Insight

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

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.