Market Roundup

Market Roundup

The People's Bank of China announced a cut in the reserve requirement ratio last night, and the retail and industrial data announced this morning were better than market expectations. The Hang Seng Index opened 106 points higher at 18,347 points in the first half of the day, up 299 points or 1.6%. The Hang Seng Technology Index rose 61 points to 4,120 point. The H-Share index rose 94 points to 6,369 points. Market turnover reached HK$53 billion. Yum China (9987) benefited from an upward revision of its full-year outlook and the recent economic data, and its share price continued to rise by more than 3% today. However, mainland property-related were under pressure trend and fell. CG services (6098) fell 0.5%. Sino-Ocean Group (3377) fell more than 4%.

Source: KGI Asia Investment Strategy

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