Market Insight

Market Roundup

The U.S. employment figures were lower than consensus, which made the market looking forward to rate cut this year. Hong Kong stock market continued to rise for ten consecutive trading days. The HSI opened 12 points higher and fell 9 points in at the mid-day. The index rebounded significantly in the afternoon, rising 102 points or 0.6% today, to close at 18,578; the HSCEI rose 25 points, or 0.4%, to close at 6,572; the HSTECH rose 36 points, or 0.9%, to close at 4,007. The total daily turnover of the market was HK$144.49bn. Chinese technology stocks generally performed well today, with share prices rising between 0.4% and 2.3%. Rate cut expectation boosted gold stocks, with Shandong Gold (1787) rising 4.9% today.

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.