Market Insight

Market Roundup

The United States released the latest inflation data. The headline CPI in September was slightly higher than market expectations. The Hang Seng Index opened 291 points lower at 17,947 points. It closed at 17,853 points in half a day, down 385 points or 2.1%. The Hang Seng Technology Index reported at 3,893 points, down 126 points or 3.1%. The H-Share Index fell 132 points, or 2.1%, to 6,135 points. The market turnover was HK$45.3 bn. Anta (2020) announced third quarter retail growth data last night. The growth rate of "other brands" in the third quarter accelerated compared with last year. The stock price was resilient today, falling 0.3% in half a day to HK$91.25. In addition, major player of the market are bearish on JD.com (9618), stock price fell 12% to HK$103.5, the worst-performed blue chip stock.

Source: KGI Asia Investment Strategy

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