Market Insight

Half Day Roundup

The market’s worries on banking sector. U.S. stocks were mixed last night. Hang Seng Index opened 172 points lower at 19,524 point, and then fell further. They fell 360 points or 1.83% in half a day to 19,335 points; The H-Share Index fell 120 points, or 1.8%, to 6,470 point; the Hang Seng Technology Index fell 82 points, or 2.1%, to 3,809 point. The market's half-day turnover was HK$69.6 bn. Bank stocks continued to be under pressure. HSBC (0005) and Standard Chartered (2888) fell 5% and 7% respectively. The best performing blue chip was SMIC (981), which rose 3.9% to HK$16.74.

Source: KGI Asia Investment Strategy

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