Market Insight

Market Roundup

China halved the stamp duty on Monday, and there was also news in Hong Kong that it was studying to increase stock liquidity. The Hang Seng Index opened at 18,519 points in the early session, up 563 points, but the half-day gain narrowed to 304 points, reporting 18,261 points. The H-Share Index rose 128 points or 2.1%, to 6,303 point. The Hang Seng Technology Index rose 110 points, or 2.7%, to 4,169 point, The market turnover was HK$ 63.3 bn. The share price of Evergrande (3333) fell 79% to HK$0.35 after resumption of trading. The market looks forward to the follow-up plan to increase stock liquidity, and the stock price of HKEx (388) rose 4.4% in half a day to HK$300.2.

Source: KGI Asia Investment Strategy

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