Market Roundup

Market Roundup

The Hang Seng Index opened 35 points higher at 16,236 points. It rose as high as 164 points in the first half of the market and narrowed to a rise of 137 points at 16,338 points in the first half of the day. The H-Share Index rose 76 points or 1.4% to 5,609 points. The Hang Seng Technology Index rose 60 points, or 1.6%, to 3,727 points. The total half-day turnover of the market was HK$41.6 billion. After Li Ning (2331) announced yesterday that it had purchased an office building in Hong Kong, its stock price plummeted, but then announced a share buyback. Today its stock price rebounded 3.9% to HK$19.02. In addition, mainland property developer stocks performed well today, with China Resources Land (1109) and Longfor (960) rising 6.3% and 5.7% respectively.

Source: KGI Asia Investment Strategy

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