Market Insight

Market Roundup

The Central Economic Work Conference emphasized that maintaining stable development in next year and matching the reasonable financing needs of the Chinese developers. However, Hong Kong stock market fell today. The HSI opened 62 points lower and continued to fall. The HSI fell 145 points or 0.9% to close at 16,228; the HSCEI fell 63 points or 1.1% to close at 5,550; the HSTECH fell 44 points or 1.2% to close at 3,686 The total daily market turnover was HK$75.5bn. The Chinese developer sector generally fell today, with the decline ranging from 2.5% to 15.0%. The Central Economic Work Conference proposed to focus on expanding domestic demand, but domestic demand stocks weakened. The stock prices of China Resources Beer (0291) and Anta (2020) both fell by nearly 3% in today.

Source: KGI Asia Investment Strategy

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