Market Insight

Market Roundup

Federal Chairman Powell made it clear in his Jackson Hole speech that the rate cut roadmap is clear, while Hong Kong stock market rose this morning. The HSI opened 97 points higher and expanded its gains, rising 186 points or 1.1% today to close at 17,798; the HSCEI rose 59 points or 1% to close at 6,278; the HSTECH rose 34 points or 1% to close at 3,502. The daily market turnover was HK$83.59bn. Several companies announced their results. Sinopec (0386)'s interim net profit increased by 2.6%, and its stock price rose by 1.2%. East Buy (1797)'s full-year net profit increased by 77%, and its stock price rose by 6.3%. Expectations of rate cuts are good for real estate-related stocks, with average gains exceeding 4%.

Source: KGI Investment Strategy

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