Market Roundup

Half Day Roundup

The RMB exchange rate stabilized today, and Hong Kong stock market rose repeatedly this morning. After opening 174 points lower, the HSI once rose 207 points, rising 182 points or 0.9% at mid-day to 20,501; the HSCEI rose 75 points or 1% to 7,353; the HSTECH rose 16 points or 0.4% to close at 4,467. The total mid-day market turnover was HK$117.71bn. The Ministry of Housing and Urban-Rural Development together with the PBOC, will hold a press conference tomorrow on promoting the development of the housing market. China real estate stocks generally rose, with Sunac (1918) and Vanke (2202) rising by 22% and 15% respectively. Heavyweight technology stocks all performed well, with Meituan (3690) and Tencent (0700) rising 2.8% and 1.9% respectively.

Source: KGI Investment Strategy

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