Market Insight

Market Roundup

US non-farm payrolls increased by 187,000 in July, which below than consensus. Hong Kong stocks market fluctuated today. The HSI opened 64 points lower today and narrowed to a drop of 4 points in mid-day. The HSI closed at 19,537, down 1 point or 0.0%. The HSTECH closed at 4,499, up 2 points or 0.0%. The HSCEI rose 1 point or 0.0% to 6,734. Market turnover was HK$78.98bn. The rectification of corruption in the Chinese pharmaceutical industry has been started, and pharmaceutical stocks have fallen between 2.4% and 11.4% today. Property developer stocks were generally under pressure. Country Garden (2007) denied that the deputy mayor of Foshan City would lead a working group, and its share price fell 7.7%.

Source: KGI Asia Investment Strategy

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