Market Roundup

Market Roundup

Federal Reserve members issued dovish statement, which may be a pause in rate hikes in this year. Hong Kong stocks rebounded today along with Asia-Pacific stock markets. The HSI rose 347 points in the morning to 18,012 and rose 254 points or 1.4% in mid-day to 17,919; the HSCEI rose 88 points or 1.5% to 6,141; the HSETCH rose 81 points or 2.1% to 3,956. The total mid-day turnover of the market was HK$45.95bn. Pharmaceutical and biotechnology stocks were generally speculated, with individual stocks such as WuXi Biologics (2269) and Innovent Biologics (1801) rising between 3.6% and 10.7%. The State Administration of Financial Supervision proposed to expand automobile consumption, BYD (1211) and Li Auto (2015) rose 2.9% and 4.4% 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.