Market Insight

Market Roundup

The Hang Seng Index rebounded today after falling below the year's low yesterday. The HSI opened slightly higher by 5 points in the early morning. After opening at 17,472 points, the increase expanded and closed at 17,611 for today, up 144 points or 0.8%. The HSTECH was at 3,833, up 16 points or 0.4%. The HSCEI rose 39 points, or 0.6%, to 6,069. The market turnover was HK$75.9bn yuan. Chinese real estate company CIFI (0884) and its related company CIFI Evershine Services (1995) resumed trading today, with their share prices falling 58.6% and 57.4% respectively. Alibaba (9988) plans to spin off Cainiao, and the HKEX confirmed that it can proceed. The stock price rose 0.7% to HK$84.5.

Source: KGI Asia Investment Strategy

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