Market Roundup

A-shares market performed well, and Hong Kong stock market also rose today. The HSI opened 169 points higher and then narrowed its gains, rising 150 points or 0.8% today to close at 19,576; the HSCEI rose 77 points or 1.1% to close at 7,057; the HSTECH rose 13 points or 0.3% to close at 4,341. The total daily market turnover was HK$141.09bn. CSRC issued market capitalization management guidelines, requiring listed companies to improve profitability. Central state-owned enterprises generally rose. Among them, infrastructure stocks performed best, with China Railway Construction (1186) and China Communications Construction (1800) rising 7.2% and 2.7% respectively. Alibaba (9988) quarterly adjusted net profit fell 9.1% yoy, in line with consensus, and its stock price fell 1.0%.

Source: KGI Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.