Market Roundup

Market Roundup

China's retail sales, fixed investment, and industrial growth data all fell short of expectations. In addition, the People's Bank of China lowered the medium-term lending facility (MLF) by 15 basis points. The Hang Seng Index opened 174 points lower and closed at 18,599 points. The decline widened to 259 points and then narrowed. It fell 192 points or 1% throughout the day to 18,581 points. The China Enterprises Index fell 57 points or 0.9% to 6,366 point. The Hang Seng Technology Index fell 29 points or 0.7%, to 4,179 point. The market turnover was HK$ 81.9 bn. Wharf Real Estate (1997) fell 8.1% today to HK$33.35, the worst performing blue chip stock.

Source: KGI Asia Investment Strategy

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