Market Roundup

Market Roundup

Affected by geopolitical risks, the DJIA fell more than 1% last Friday, but gains in A-shares narrowed the decline in Hong Kong stock market. After opening 234 points lower, the HSI fell 121 points, or 0.7%, to close at 16,600; the HSCEI fell 23 points, or 0.4%, to close at 5,856; the HSTECH fell 31 points, or 0.9%, to close at 3,442. The total trading turnover was HK$95.16bn. Zhaojin (1818) raised more than HK$1.7bn through a share placement at a discount of 9.7%, and its stock price fell 9.6%. Chow Tai Fook (1929)'s quarterly retail value increased by 12% yoy, but same-store sales in the mainland fell by 2.7%, and its stock price fell by 7.9%.

Source: KGI Asia Investment Strategy

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