Market Insight

Half Day Roundup

The Fed finally decided to raise interest rates by 25 basis points this time. The three major US stock indexes finally closed down. The Hang Seng Index opened 29 points higher to 19,619 point, and the half-day increase expanded to 152 points or 0.8%, to 19,744 point; the CEI rose 61 points or 0.9%, to 6,701 point; the Hang Seng Technology Index rose 65 points, or 1.6%, to 4,074 points. The market's half-day turnover was HK$63 bn. TV Broadcasting (511) was hyped again, and its share price rose 35% to HK$9.9. Tsingtao Brewery (168) announced last night that its net profit rose 17.6%, and its share price rose 2.1% to HK$81.1. Orient Overseas (316) received a final and special dividend of HK$35.5 in total, and its share price rose 18% to HK$153.9.

Source: KGI Asia Investment Strategy

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