Market Insight

Market Roundup

The DXY index continued to fall, driving the RMB to rebound, and Hong Kong stocks benefited. The Hang Seng Index opened 154 points higher at 17,932 points and rose 178 points or 1% in half a day to 17,956 points; the H-Share Index rose 64 points or 1% to 6,168 points; the Hang Seng Technology Index rose 38 points or 0.9% to 4,115 points. The total half-day turnover of the market was HK$58.7 billion. The news on Chinese property developer continued to ferment, with Longfor (960) and China Resources Land (1109) leading the market, rising 7.1% and 4.7% respectively. After Ctrip (9961) announced its quarterly results, it failed to follow the performance of the index, and its stock price fell 0.1% to HK$280.2.

Source: KGI Asia Investment Strategy

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