Market Roundup

Market Roundup

Today, Hong Kong stock market rose in line with the global market today. The HSI opened 175 points higher and then expanded its gains. It rose 217 points or 1.3% today to close at 17,238. The HSCEI rose 69 points or 1.2% to close at 6,080. The HSTECH rose 22 points, or 0.7%, to close at 3,466. The total daily market turnover was HK$84.73bn. Chinese bank sector performed well, with CCB (0939) and BOC (3988) rising 1.3% and 1.8% respectively. HSBC (0005) and Hang Seng (0011), which are about to announce their results, rose 1.6% and 3.0% on the day. Evergrande Automobile (0708)'s two subsidiaries were filed for bankruptcy and reorganization by creditors, and the stock price fell 9.0%.

Source: KGI Asia Investment Strategy

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