Market Insight

Half Day Roundup

Chinese economics figures for June and second-quarter GDP growth were both worse than consensus, and Hong Kong stock market fell back today. The HSI opened 91 points lower and then expanded its losses, falling 254 points or 1.4% at mid-day to 18,038; the HSCEI fell 102 points or 1.6% to 6,430; the HSTECH fell 92 points or 2.4% to 3,689. The total mid-day turnover of the market was HK$50.79bn. Chinese retail sales data last month were worse than consensus, and domestic demand stocks fell. The share prices of Li Ning (2331) and Yihai International (01579) both fell by nearly 4%. Wanzhou (0288) spun off Smithfield and listed in the U.S., and its share price rose 0.8% at mid-day.

Source: KGI Asia Investment Strategy

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