Market Insight

Market Roundup

The PBOC announced that the one-year and five-year LPR would be lowered by 10 basis points, and the Hong Kong stock market performed better. The HSI opened 47 points higher and then fell 103 points. The index rebounded by 218 points, or 1.3%, to close at 17,635 today; the HSCEI rose by 88 points, or 1.4%, to close at 6,253; the HSTECH rose by 74 points, or 2.1% to close at 3,610. The total daily market turnover was HK$93.42bn. Mobile phone component stock Sunny Optical (2382) issued a profit announcement, predicting that first-half profit would increase by 1.4x to 1.6x yoy, and its stock price rose 1.0% today. For the domestic demand stocks, JiuMaojiu (9922) issued a positive profit warning, expecting half-year profit to fall by up to 70%, and its stock price fell 10.3%.

Source: KGI Asia Investment Strategy

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