Market Insight

Half Day Roundup

Hong Kong stock market opened higher and closed lower before noon. The HSI opened 42 points higher this morning and then fell back. It closed at 16,745 at mid-day, down 45 points or 0.3%; the HSCEI fell 44 points or 0.8% to 5,762; the HSTECH fell slightly by 1 points, closed at 3,501. The total half-day turnover of the market was HK$57.06bn. All property curbs were ditched, and local real estate stocks performed well. NWD (0017) rose 5.9%, and the share prices of Henderson Land (0012), SHKP (0016) and Cheung Kong (1113) rose 4.1%, 3.3% and 2.3% respectively. 111 domestic online games were approved in China, including NetEase's game, and NetEase's stock price rose 5.5%.

Source: KGI Asia Investment Strategy

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