Market Insight

Market Roundup

Hong Kong stock market rebounded after opening lower today. After opening 15 points lower, the HSI fell 93 points and then rose 140 points to 16,468. The HSI rose 119 points, or 0.7%, to 16,447 at mid-day. The HSCEI rose 40 points, or 0.7%, to 5,649; the HSTECH rose 47 points, or 1.3%, to 3,730. The total mid-day turnover of the market was HK$48.2bn. Today, several blue-chip stocks announced buyback plans. WuXi Biologics (2269) plans to buy back shares for no more than US$600mn, and its stock price rose 5.3% in mid-day; Swire plans to buy back up to US$6bn of shares in the next two years, and Swire A (0019) Up 15.4%; Chairman of BYD (1211) plans to purchase A shares of the company of no more than RMB 200mn, and the stock price rose 3.6%.

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.