Market Insight

Half Day Roundup

U.S. stocks rose before market closed. Hang Seng Index opened 48 points higher at 22,614 points, but turned down 12 points in half a day to 22,555 points. The China Enterprises Index rose 14 points to 7,720 points; the Hang Seng Technology Index rose 10 points to 4,774 points. Market turnover was HK$54.4 bn. Today, mainland Movies & Entertainment stocks under selling pressure, Huanxi Media (1003) fell 9.4%, and IMAX China (1970) fell 2.1%. Foreign media reported that China may consider imposing restrictions on the export of solar energy technology. Photovoltaic stocks fell. Xinyi Solar (968) and GCL Technology (3800) both fell more than 3%.

Source: KGI Asia Investment Strategy

The materials contained herein are provided by KGI Asia Limited ("KGI") for information only. While such materials are based on or derived from sources believed to be reliable, KGI makes no representation or warranty (express or implied) as to their accuracy or reliability. Neither the information nor the opinions expressed herein constitute, or are to be construed as, an offer or invitation or solicitation of an offer to buy or sell any securities or investments. KGI and its officers, employees, agents and affiliates may have interests in the securities or investments covered herein and accept no liability whatsoever for any loss or consequence whatsoever (whether direct or indirect) resulting from any use of or reliance by you on such materials.