Market Insight

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

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.