Market Insight

Market Roundup

China announced third-quarter GDP growth of 4.9% YoY, higher than market forecast of 4.5%. Hong Kong stocks market fluctuated today, with the HSI opening 45 points lower and then narrowing to a drop of 18 points at mid-day. The HSI showed little volatility in the afternoon, closing at 17,732 today, down 40 points or 0.2%. The HSTECH reported at 3,771, down 64 points or 1.7%. The HSCEI fell 16 points, or 0.3%, to 6,075. The market turnover was HK$88.88bn. BYD Electronics (0285) and BYD (1211) issued profit alerts respectively. BYD Electronics rose 2.3% and BYD rose 6.9%. Anta (2020) aims to maintain double-digit growth in Anta brand sales in the next three years, and the stock rose 3.6%.

Source: KGI Asia Investment Strategy

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