Market Insight

Market Roundup

The debt ceiling discussion still has no results, and US stocks closed down last night. The Hang Seng Index opened lower by 152 points to 19,279 points, and the half-day decline extended to 183 points to 19,248 points; the China Enterprises Index fell 71 points or 1.1% to 6,532 points; the Hang Seng Technology Index fell 41 points or 1.1% to 3,811 points. The market's half-day turnover was HK$ 44.2 bn. Gambling stocks weakened, Sands (1928) fell 4.8%, Galaxy Entertainment (0027) fell 3.3%. Xiaomi (1810) dropped 1.7% to HK$10.58 before the announcement of quarterly results. The stock price of Cathay Pacific (293) fell 1.4% to HK$7.51.

Source: KGI Asia Investment Strategy

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