Market Insight

Market Roundup

Affected by the unstable economic outlook of China, Hong Kong stock market continued to fall today. The HSI opened 170 points lower and then extended its losses, falling 287 points or 1.6% today to close at 17,727; the HSCEI fell 105 points or 1.6% to close at 6,316; the HSTECH fell 49 points or 1.4% to close at 3,622. The total daily turnover of the market was HK$94.24bn. Chinese technology stocks generally fell today, with losses ranging from 0.7% to 5.5%. Ping An (2318) planned to issue US$3.5bn in CB, and its stock price fell 5.4%. Mobile phone component stocks generally rose, with Sunny (2382) went against market to rise 7%.

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.