Market Roundup

Half Day Roundup

THE U.S. stock market rose yesterday after Federal Reserve Chairman Powell said progress had been made in fighting inflation. Hong Kong stock market followed the better sentiment of global market today. The HSI opened 72 points higher and then rose sharply. It closed at 17,978 at mid-day, up 209 points or 1.18%; the HSCEI rose 77 points or 1.22% to 6,452; the HSTECH rose 88 points or 2.51%, reported at 3,627. The total mid-day turnover of the market was HK$65.41bn. The chairman of Bosideng (3998) planned to reduce its holdings of 400mn shares at a discount of 9.6%, and the stock price fell 15.5%. Heavyweight stocks generally performed well, with Tencent (0700) and Alibaba (9988) rising 1.5% and 2.9% respectively.

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.