Market Insight

Market Roundup

US stocks performed well. The Hang Seng Index opened 135 points higher at 20,947 points. The day-long rally extended to 175 points at 20,988 points. The China Enterprises Index rose 72 points or 1% to 7,090 point; the Hang Seng Technology Index rose 78 points or 1.8% to 4,367 point. The market turnover was HK$122.9 bn. The China Securities Regulatory Commission still allows existing Chinese investors to carry out transactions in Hong Kong. Bright Smart (1428) rebounded 2.1% today to HK$1.49. In addition, Standard Chartered (2888) announced its fourth-quarter results. Profit before provision increased by 46% year-on-year to US$920 mn. At the same time, it announced a buyback and dividend plan. The stock price rose 2.7% to HK$69.8.

Source: KGI Asia Investment Strategy

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