Market Insight

Market Roundup

The heavyweight stocks in the HSI performed well today, driving the overall rise of Hong Kong market. The Hang Seng Index rose 201 points or 1.1% to 18,860 on Wednesday. HSTECH rose 78 points or 2.0% to 4,081 and HSCEI rose 82 points or 1.3% to 6,377. Daily market turnover was HK$83.8bn. Share prices of Tencent (0700), Alibaba (9988) and Meituan (3690) rose 1.8%, 1.2% and 4.3% respectively. China new loans and social financing increased by RMb4.22tn in June, which was higher than consensus. Today, Chinese banking sector performed well. China Construction Bank (0939) and China Merchants Bank (3968) rose 0.6% and 1.8% 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.