Market Roundup

Market Roundup

Markets await the coming results of FOMC meeting. DJIA fell 367 points or 1.1% yesterday, while Hong Kong market fell this morning following global market. The HSI opened 247 points lower and then extended its decline. It fell 348 points or 1.8% in mid-day to 19,585. The HSCEI fell 127 points, or 1.9%, to 6,552; the HSTECH fell 92 points, or 2.4%, to 3,805. The market's mid-day turnover totaled HK$38.33bn. HSBC (0005)'s quarterly results beat consensus and its share price rose yesterday. It retreated 0.6% this morning to close at HK$58.3. For other traditional financial stocks, Standard Chartered (2888) and HKEx (0388) price fell 2.4% and 0.9% respectively. China tech stocks was generally weak today. Tencent (0700) and Alibaba (9988) fell 2.4% and 2.7% respectively.

Source: KGI Asia Investment Strategy

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