Market Insight

Market Roundup

US stocks suffered setbacks yesterday. The Hang Seng Index opened 64 points higher and closed at 19,850 points. China’s manufacturing PMI data beat expectations, the index increased by 834 points and closed at 20,620 point. The China Enterprises Index rose 333 points or 5.1% to 6,914 point; the Hang Seng Technology Index rose 261 points or 6.6% to 4,186 point. The turnover of the market was HK$153.9 bn. ATM rose 7%, 6% and nearly 5% respectively. Longfor Group (960) rose 9.6%, closing at HK$24.5, was the best performing blue chip stock. Gambling revenue in Macau rose 33% in February, Wynn (1128) and Melco (200) both rose more than 7%.

Source: KGI Asia Investment Strategy

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