Market Roundup

Market Roundup

Global stock markets were under pressure. The Hang Seng Index opened 50 points lower at 17,261 points, the decline expanded significantly and challenged the 17,000 point level. It fell 306 points or 1.8% for the whole day to 17,005 points; the HSCEI Index fell 126 points or 2.0% to 6,016 points; the Hang Seng Technology Index fell 70 points, or 2%, to 3,421 points. The total market turnover for the whole day was HK$105.7 billion. Technology stocks were under significant pressure today, with Tencent (700) and Meituan (3690) fell 3.3% and 5.5% respectively. During the Asian trading session, international gold prices suffered a setback, with SPDR Gold ETF (2840) fell 1.6% and Zijin Mining (2899) fell 5.1%.

Source: KGI Asia Investment Strategy

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