Market Insight

Half Day Roundup

The Hang Seng Index opened 84 points lower, at 18,028 points, and fell 121 points, or 0.7%, in half a day, to 17,991 points; the HSCEI Index fell 33 points, or 0.5%, to 6,388 points; the Hang Seng Technology Index fell 33 points, or 0.9%, to 3,705 points. The total half-day turnover of the market was HK$57.939 billion. Mainland property stocks performed well today, with Longfor (960) and China Resources Land (1109) rising 5.7% and 2.6% respectively. Chow Tai Fook (1929) announced a 21% increase in net profit for the year to the end of March, but no special dividend paid for the quarter which miss market expectation and its stock price fell 7.7%.

Source: KGI Asia Investment Strategy

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