Market Insight

Market Roundup

US stocks closed higher last night. Hong Kong stocks opened 54 points lower this morning at 17,680 points. Half day fell 65 points or 0.4% to 17,670 points. The H-Share index rose 1 point, or 0%, to 6,076 points; the Hang Seng Technology Index rose 21 points, or 0.5%, to 4,051 points. The total half-day turnover of the market was HK$40.9 bn. Baidu (9888) continued yesterday's upward trend, with its share price rising 5.6% to HK$118.5. In addition, momentum of Chinese property developer continued, with Longfor (960) and Country Garden (2007) rising 9.9% and 17.6% respectively.

Source: KGI Asia Investment Strategy

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