Market Roundup

U.S. President Trump threatened to fire Federal Reserve Chairman Powell, causing the Dow Jones Industrial Average to drop 971 points or 2.5% overnight (21st). The Hang Seng Index opened 91 points lower at 21,303 points, but turned around to rise 167 points, closing at 21,562 points. The China Enterprises Index rose 53 points or 0.7% to 7,951 points, and the Hang Seng Tech Index rose 12 points or 0.2% to 4,899 points. The total market turnover for the day was HKD 251.4 billion. Competition between JD.com (9618) and Meituan (3690) intensified, with their shares fell 6.3% and 4.6% respectively.

Source: KGI Investment Products and Solutions Department

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.