Market Insight

Half Day Roundup

Hong Kong stocks opened 280 points lower this morning, at 20,910 points, and narrowed the half-day decline to 100 point, at 21,090 point. The China Enterprises Index fell 8 points or 0.1% to 7,118 point; the Hang Seng Technology Index fell 22 points or 0.5% to 4,340 point. Half-day market turnover was HK$60.6 bn. Link REIT (823) announced its rights issue last Friday, and its share price fell 12.5% to HK$54.95. Other local real estate stocks followed, New World (17) fell 6.9% and Henderson Land (12) fell 4.1%. In addition, some brokerages said they would suspend their mainland customer accounts. Bright smart(1428) fell 12.3%.

Source: KGI Asia Investment Strategy

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