Market Insight

Market Roundup

The People's Bank of China announced that the one-year LPR remained unchanged, and the LPR over five years was 3.95%, a decrease of 25 basis points, which exceeded expectations. The Hang Seng Index opened 66 points higher, opening at 16,222 points, and ended the day up 92 points, or 0.6%, at 16,247 points; the Hang Seng Technology Index was at 3,264 points, up 11 points, or 0.3%; the H-Share Index rose 34 points, or 0.6%, to 5,519 points point. The market turnover was HK$ 77 billion. BYD (1211) announced that the price of its "Qin PLUSDM-i" will be less than RMB 80,000, and its stock price fell 2.2%. JD.com (9618) is considering acquiring British electrical appliances retailer Currys. Its stock price fell slightly by 0.2% throughout the day to HK$91.7.

Source: KGI Asia Investment Strategy

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