Market Roundup

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

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