Market Insight

Market Roundup

The minutes of the Federal Reserve’s June meeting released on Wednesday showed that almost all members supported the resumption of interest rate hikes at future meetings. US stocks closed down last night. The Hang Seng Index opened 270 points at 18,840 point. Half day decline expanded to 588 points, or 3.1%, to close at 18,522 point. The Hang Seng Technology Index fell 95 points, or 2.4%, to 3,922 points. The HSCEI fell 230 points, or 3.5%, to 6,260 point. Market turnover was HK$ 53.1 bn. All constituent stocks of the Hang Seng Index closed down. BYD (1211) dropped 0.2% to HK$261.8, still the best performer of the index.

Source: KGI Asia Investment Strategy

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